White House releases show Biden personal finances little changed

·1-min read
U.S. President Biden attends University of Pennsylvania graduation ceremony in Philadelphia, Pennsylvania

By Nandita Bose

WASHINGTON (Reuters) -The White House on Monday released financial disclosure reports for President Joe Biden showing the president's personal finances in 2022 changed little from the prior year, even though his book royalties fell.

Biden earned between $2,500 and $5,000 in book royalties in 2022, down sharply from $30,000 a year earlier. He also earned less than $3,000 in "speaking and writing engagements," from close to $30,000 last year, the disclosures show.

The disclosures, which included First Lady Jill Biden's income, showed her book royalties also dropped. She earned between $5,000- $15,000 in 2022 compared to $15,000- $50,000 from book sales a year earlier.

The report also showed the couple's assets were worth between $1.09 million and $2.57 million.

They owe between $250,000 and $500,000 on a mortgage on their Delaware home, plus between $45,000 and $150,000 on other loans.

In April, the Bidens released their federal tax return , showing the couple earned nearly $580,000 last year and paid an effective federal income tax rate of 23.8%.

Biden draws a $400,000 wage as president of the United States. Jill Biden earned $82,335 from her job teaching English at Northern Virginia Community College.

The remainder of their income is drawn from investment interest, pensions, annuities, distributions from retirement accounts and Social Security as well as a corporation that collects their book royalties, according to the joint tax return.

(Reporting by Nandita Bose in Washington; Editing by Leslie Adler and David Gregorio)