A Look At The Obamas' And Bidens' Tax Returns

The Obamas and the Bidens just released their 2014 tax returns; here's a breakdown of the big takeaways.
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A Look At The Obamas' And Bidens' Tax Returns

It's tax season, even at the White House. The Obamas and the Bidens both released their 2014 tax returns to the public on Friday.

Michelle and Barack Obama filed their tax returns jointly and reported $477,383 of income. They paid $116,002 in state and federal taxes.

And the first family reported donating around $70,700 to 33 different charities. About $22,000 went to just one organization — the Fisher House Foundation, which benefits military families.

The Bidens reported income of $388,844 and paid $107,944 in state and federal taxes.

But the Bidens weren't quite as charitable as the Obamas in 2014 — they reported $7,380 in donations, so they have about $60,000 of catching up to do.

In a press release on the tax returns, White House spokesman Josh Earnest points out because of the president's tax reform policies, he was "subject to limitations in tax preferences for high-income earners."

But between 2013 and 2014, the Obamas' federal tax rate stayed about the same. It went from 20.4 percent down to 19.6 percent.

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