Biden Paid Nearly $300,000 In Federal Taxes, Harris $1.2 Million – Forbes

Topline

Former vice president Joe Biden and his wife, Dr. Jill Biden, paid nearly $300,000 in federal taxes in 2019, according to newly released filings made available on Tuesday by his campaign prior to the first presidential debate between the Democratic candidate and President Trump.

Key Facts

The Bidens paid $299,346, while running mate Sen. Kamala Harris and her husband, Douglas Emhoff, who also released their returns on Tuesday, paid $1,185,628 in federal taxes in 2019.

The Bidens brought in around $11.1 million in 2017, nearly double what the couple earned from 1998 to 2016, with the jump deriving mostly from a book deal and speaking engagements.

Harris and Emhoff have earned a combined $11.5 million over the past six years, most of it from Emhoff’s work at law firms Venable and DLA Piper, with the couple first filing taxes jointly in 2014, the year they were married, a year after Harris filed for earnings of $129,000, when she was California’s attorney general.

The release follows the bombshell New York Times report Sunday that revealed details of Trump’s long-withheld tax filings, particularly the fact that the billionaire president paid a meager $750 in federal income taxes in 2016 and 2017.

Despite significant losses reported by Trump in his decades of tax filings, Trump remains a billionaire with a net worth of $2.5 billion, according to a Forbes estimate.

Biden and Trump will debate for the first time Tuesday night at 9 p.m., where Trump’s recently revealed taxes are sure to be a major talking point.

Crucial Quote

Biden in 2019 challenged Trump over his tax returns: “I’ve released 21 years of my tax returns. . . . Even Richard Nixon released his tax returns. Mr. President, release your tax returns or shut up.”

Key Background

Since campaigning and becoming president, Trump claimed an ongoing audit prevented him from releasing his tax returns. While Trump can release his tax returns while under audit, he is indeed being investigated by the Internal Revenue Service for a $72.9 million tax refund he claimed in 2010, which could end up costing him over $100 million if it’s proven to be illegitimate.

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