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President Biden in the East Room of the White House on Monday. Photo: Nicholas Kamm/AFP via Getty Images

President Biden released his 2020 tax return on Monday, showing that he and first lady Jill Biden earned just over $600,000, with an effective federal income tax rate of 25.9% after 5% in charitable donations.

Why it matters: The release revives a decades-old tradition of the president releasing their tax returns after former President Trump refused to do so.

  • Trump fought prosecutors in the courts to try and stop them obtaining his tax and financial records. But the Supreme Court ruled in February that New York City prosecutors could enforce a subpoena to obtain them.

Of note: Vice President Kamala Harris and second gentleman Doug Emhoff also released their 2020 tax forms Monday, showing they earned almost $1.7 million, paying a federal income tax rate of 36.7%.

Flashback... NYT: Trump paid $750 in federal income taxes in 2016 and 2017

Go deeper

Wealthy people are renouncing American citizenship

Expand chart
Source: Andrew Mitchel LLP, from IRS data

The number of Americans who renounced their citizenship in favor of a foreign country hit an all-time high in 2020: 6,707, a 237% increase over 2019.

Between the lines: While the numbers are down this year, that's probably because many U.S. embassies and consulates remain closed for COVID-19, and taking this grave step requires taking an oath in front of a State Department officer.

2 hours ago - World

Report: LGBTQ+ Afghans' lives "dramatically worsened" under Taliban rule

Taliban fighters in Kabul, Afghanistan, earlier this month. Photo: Mohd Rasfan/AFP via Getty Images

LGBTQ+ Afghans have been threatened, attacked and "faced an increasingly desperate situation and grave threats to their safety" since the Taliban seized control of Afghanistan last August, per a report published Wednesday.

What they're saying: "We spoke with LGBT Afghans who have survived gang rape, mob attacks, or have been hunted by their own family members who joined the Taliban, and they have no hope that state institutions will protect them," per a statement from study co-author J. Lester Feder.

4 hours ago - World

Canadian Indigenous group finds 93 suspected unmarked graves

A makeshift memorial honoring the 215 children whose remains were found in a mass grave in Brantford, Ontario, Canada, last May. Photo: Cole Burston/AFP via Getty Images

Indigenous leaders in Canada's western province of British Columbia said Tuesday they believe they've found 93 unmarked graves near a former boarding school.

The big picture: Hundreds of mass graves have been found at the grounds of former residential schools for Indigenous children since last May, when the remains of 215 children were uncovered at one such site in B.C.

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