Democratic presidential candidate Joe Biden paid nearly US $ 288,000 in federal income taxes last year, according to reports he released just hours before his Tuesday night debate with US President Donald Trump .
The move came following a New York Times report that Trump paid only US $ 750 in income tax in 2016, the year he ran for president, and in 2017, his first year at the White House.
Biden and his wife, Jill, as well as Biden’s running mate, California Senator Kamala Harris, released their 2019 federal and state statements as the president faces the political fallout from a series of Times reports about his statements by long hidden income. The Times also reported that Trump paid no income tax in 10 of the 15 years leading up to 2017.
The Bidens’ payment of US $ 287,693 to the federal government in 2019 showed a substantial drop from the US $ 1.5 million they paid in income taxes in 2018, reflecting a decline in Biden’s accounting revenues , his decision to run for president and his leave. an academic post at the University of Pennsylvania in Philadelphia.
After paying US $ 91,000 in 2016, Biden’s last year as vice president in the Obama administration, the Bidens paid US $ 3.7 million to the government in 2017, largely because of the revenue drawn from book contracts.
Their latest report shows that the couple’s adjusted gross earnings of US $ 985,233 came from her vacant position at Penn, Jill Biden’s community college teaching job, and companies withholding payments for speaking and writing.
Harris and her husband, attorney Douglas Emhoff, paid US $ 1,185,628 in combined federal and state taxes on income of US $ 3,018,127.
The Biden campaign has acted aggressively to capitalize on The Times reports of Trump’s tiny tax payments. The campaign ran a media ad showing nurses, firefighters, and other working-class Americans paying significantly more annual federal taxes than the Trump tax payment of US $ 750 described by The Times.
Trump denied the Times report, calling it “fake news” at a press conference, but provided no evidence to refute it.
With the release of their 2019 returns, the Bidens have now released 22 years of tax documents, dating back to the late 1990s when he was a United States Senator representing Delaware. Harris has released 15 years of tax returns dating back to his time as a San Francisco district attorney.
Kate Bedingfield, deputy campaign manager for Biden, said the release of the documents shows “a historic level of transparency meant to give the American people faith, once again, that their leaders will watch over them and not their own. results ”.
It wasn’t too subtle a dig at Trump’s refusal – since his 2016 presidential campaign – to make his personal income taxes public.
Trump has long insisted that he is unable to provide his tax returns because they are controlled by the Internal Revenue Service, despite no legal conditions preventing him from making them available.
The Times reported that Trump was, in fact, audited by the IRS for his 2010 US $ 72 million refund claim claiming questionable losses of $ 1.4 billion. of US dollars in 2008 and 2009.