Politics
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Politics

Here's Why Kamala Harris And Her Husband Made More Money Than Joe And Jill Biden In 2020

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Photo Credit: 24x7 Breaking News

On Monday, President Joe Biden made headlines after he released his tax returns, a presidential tradition that former president Donald Trump had abandoned during his tenure. Vice President Kamala Harris followed suit, with her financial records sparking surprise that her household was raking in over a million dollars more than the Bidens.

The reason behind this? Harris’ husband Doug Emhoff is doing very well in his career as a private attorney.

The Bidens jointly earned $607,336 in 2020, gave almost $31,000 to charity and owed $157,414 in federal income tax.

Photo Credit: 24x7 Breaking News

Harris and Emhoff, however, reported their adjusted gross income of $1,695,300 last year, donated over $27,000 to charity and paid $621,893 in federal taxes. (The couple also reported $125,004 in paid income tax in California, with Emhoff paying an additional $56,997 in income taxes in Washington, D.C.) This means that they paid more in federal taxes than the Bidens made.

The Second Family's financial success is mainly due to Emhoff's work as a partner at the law firm DLA Piper, as he brings in a large bulk of the couple's joint income, Bloomberg reported. Emhoff earned about $1.2 million from the firm before taking a leave of absence once his wife joined Biden's ticket in August. He eventually left the firm in November.

Photo Credit: 24x7 Breaking News

Harris' main contribution to the household income was the $358,000 pay from her 2019 memoir, The Truths We Hold. Her $174,000 salary as a senator will be surpassed by the $235,100 vice president’s salary, but this may increase to $243,500 or more if a Congressional pay rate deal lifts the pay freeze that has been in place since the Obama administration.

Harris and Emhoff have significant debt, most notably their two mortgages, each worth between $1 million and $5 million, for a home in California and a condo in Washington, D.C.

Photo Credit: 24x7 Breaking News

The tax returns of both households showed a substantial decrease in earnings from the previous year. The Bidens reported an adjusted gross income of about $985,000 in 2019, while Harris and Emhoff had a 46 percent decrease from their $3,095,590 earnings in 2019.

Just like Trump, former Vice President Mike Pence never publicly disclosed his tax returns while in office. According to The New York Times, Trump only paid $750 in federal income taxes during each of his first two years in office.

Sources: Newsweek