Bidens pay $157,414 in federal income tax for 2020 – White House

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By Nandita Bose WASHINGTON (Reuters) -President Joe Biden and first lady Jill Biden reported a drop in their federal income to $607,336 in 2020 from $985,223 in 2019, when they earned money from book sales and speeches, according to their tax returns, which the White House released on Monday. The Bidens paid $157,414 in federal income tax and their 2020 effective federal income tax rate is 25.9%, the White House said in a statement. The Bidens also reported holding cash and investments between $1.2 million and $2.88 million in a financial disclosure filed with the Office of Government Ethics. …

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