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Sept. 29, 2020, 7:34 p.m. EDT

Biden releases tax returns hours ahead of first debate with Trump

Democratic contender aims to show contrast with Trump

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By Robert Schroeder, MarketWatch


Associated Press
Former Vice President Joe Biden

Democratic presidential candidate Joe Biden and his wife Jill paid nearly $300,000 in federal taxes in 2019, returns released hours before the first presidential debate showed.

The couple had an income of $944,737, and paid $346,204 in taxes. After a refund of $46,858, the Bidens paid $299,346 in taxes.

Now see: Here’s how the stock market tends to perform after the first presidential debates.

The Bidens’ release of their tax documents comes just days after the New York Times reported President Donald Trump paid just $750 in federal income taxes the year he ran for office, and none in several other years. Trump has disputed the report.

Read: 5 key takeaways from the report on Trump’s tax returns.

Trump has broken presidential tradition and refused to release his tax returns.

Trump and Biden are scheduled to debate for the first Tuesday night at 9 p.m. Eastern.

Now read: Dow ends 131 points lower, snapping three-day win streak ahead of Trump-Biden showdown.

Robert Schroeder is the White House reporter for MarketWatch. Follow him on Twitter @mktwrobs.

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