By News Room
The White House on Monday released President Joe Biden’s income statement, which shows the president’s income in 2022 was little changed from the previous year, even despite a decrease in the amount of royalties for his published books.
In 2022, Biden received $2,500 to $5,000 in royalties, far less than the $30,000 the president received from publishers a year earlier. He also earned less than $3,000 from “spoken and written performances”. Last year, the president received nearly $30,000 for his speeches.
The statement also reflects First Lady Jill Biden’s income. Its book publishing royalties have also declined. She earned between $5,000 and $15,000 in 2022, up from $15,000 to $50,000 from book sales the previous year.
According to the statement, the presidential couple’s total assets are estimated to be between $1.09 million and $2.57 million.
The Bidens still owe the bank $250,000 to $500,000 on the mortgage they took out to buy their home in Delaware, as well as $45,000 to $150,000 in other loans.
In April, the Bidens released their federal tax returns, recording nearly $580,000 in income last year. According to the current rate of this income, they paid income tax in the amount of 23.8% to the federal treasury.
The annual salary of the President of the United States is $400,000. Jill Biden, who teaches English at Northern Virginia Community College, earns $82,335. The rest of the income was collected by the presidential couple from investment income, payments from retirement and social security accounts, as well as from a company that collects royalties from the Bidens for the books they wrote.
Read the Ukraine War News Latest Today on The Eastern Herald.
Source: White House releases 2022 tax returns for president and first lady
