Bush-Cheney Tax Returns

The White House released tax return information from President Bush and Vice President Cheney Friday.

The President and First Lady are paying $221,635 in federal income taxes on $719,274 in taxable income. Vice President Cheney and his wife Lynn are paying $602,651 in taxes on $2,528,068 of income.

The income for both couples combines the government salaries of the President and Vice President along with any investment income from trust-held assets. Cheney also earns $32,500 in pension benefits from his time as director of the Union Pacific Corporation.

Both Laura Bush and Lynn Cheney received income from book deals and Mrs. Cheney continues to work for the American Enterprise Institute.

The White House press releases detailing the tax returns are after the jump.

THE WHITE HOUSE

Office of the Press Secretary
(Crawford, Texas)

________________________________________________________________
For Immediate Release April 11, 2008

PRESIDENT AND MRS. BUSH RELEASE 2007 TAX RETURN

President and Mrs. George W. Bush reported taxable income of $719, 274 for the tax year 2007. This resulted in a total of $221,635 in federal income taxes paid by President and Mrs. Bush.

The President's 2007 income included salary earned as President and investment income from the trusts in which the President and Mrs. Bush

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