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Biden's personal finances little changed in 2023, documents show

Trevor Hunnicutt and Nandita Bose
·2-min read

By Trevor Hunnicutt and Nandita Bose

WASHINGTON (Reuters) -U.S. President Joe Biden disclosed a little-changed personal financial situation in 2023, though his book royalties fell, cash in his bank account decreased and the amount he owed on a home equity loan rose, federal documents showed.

Biden and his wife Jill Biden reported total assets between roughly $1 million and $2.6 million and liabilities between roughly $350,000 and $850,000, according to an Office of Government Ethics form that lists ranges rather than precise figures.

The White House released the documents on Wednesday. Biden, a Democrat, is seeking reelection in 2024 and the economy's performance has been a top issue for voters. His Republican rival Donald Trump's finances have been in focus amid several legal cases.

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An earlier tax disclosure showed that the Bidens' income rose 7% to $619,976 in 2023. Trump, who is not a sitting official, has not made a comparable disclosure.

A report covering Vice President Kamala Harris and her husband Doug Emhoff's finances was also released. Harris reported being gifted tickets valued at $1,655.92 to a Beyonce concert by the "Texas Hold 'Em" artist.

Biden's liabilities include a mortgage on his personal home carrying a balance between $250,001 and $500,000. The interest rate for the mortgage, which Biden incurred from TD Bank in 2013, is 3.375%.

The president took out a home-equity loan in 2022 with a variable interest rate and a 10-year term, which rose to $100,000 to $250,000 from $15,001 to $50,000.

The president also reported having less cash in the bank than he did in the past year.

One of his bank accounts showed a cash total of $50,000 to$100,000 from $250,000 to $500,000 last year. Another account showed $50,000 to $100,000 in cash, a drop from $100,000 to $250,000 a year earlier.

The Bidens earned less than $6,201 in royalties last year from a series of books they have written about their half century in public life.

(Reporting by Trevor Hunnicutt and Nandita Bose in Washington; Editing by Josie Kao)