FULL DISCLOSURE

Biden’s and Harris’ Income Dropped in 2020, Tax Returns Show

Biden’s decrease in earnings largely came down to him dropping speaking gigs to campaign, while Harris’ came from her husband leaving his job.

Tax returns released Monday by President Joe Biden and Vice President Kamala Harris show that their incomes both dipped in 2020. In Biden’s case, the drop in income was mostly due to the demands of the campaign trail, as he gave up highly paid speaking engagements and book deals to focus on running for president. In the past, Biden had been paid as much as $235,000 for a single speech. Harris’ returns also showed a significant decrease in income, as her husband, Douglas Emhoff, first took a leave of absence from his position as a partner at law firm DLA Piper when she was added to the ticket, and then resigned from his position completely after Biden won the 2020 election. This level of financial transparency is a significant departure from the last administration: Former President Donald Trump is still fighting tooth and claw to keep his financial records private.