Count the first and second couples as among those taxpayers who got hosed by the Trump-era tax law that limits how much filers can deduct in state, local and real estate taxes.
President Joe Biden and first lady Jill Biden paid $90,289 in state and local income and real estate taxes in 2020, according to tax returns the White House released late afternoon Monday, the pandemic-era extended deadline to file federal taxes. But under the 2017 tax law, they were only allowed to knock the maximum $10,000 from their federal gross income.
Vice President Kamala Harris and her husband, attorney Doug Emhoff, were hit even harder by the so-called SALT (State and Local Tax) limits: The couple paid $280,421 in those taxes in 2020 but also could only deduct the new maximum of $10,000.
The returns also reveal that the Bidens made less last year than the second-in-command and her husband. Joe and Jill Biden reported $607,336 in adjusted gross income, including pension and Social Security income. That amount was significantly less than what the couple reported in 2019 earnings – about $985,000.
Harris and Emhoff, meanwhile, pulled in more than twice that amount, $1,695,225, the couple’s tax return showed. That amount is also less than the approximately $3 million the couple earned in 2019.