Today, the President released his 2012 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $608,611. The Obamas paid $112,214 in total tax. 

The President and First Lady also reported donating $150,034 – or about 24.6 percent of their adjusted gross income – to 33 different charities. The largest reported gift to charity was $103,871 to the Fisher House Foundation.

The President’s effective federal income tax rate is 18.4 percent. The President believes we must reform our tax system which is why he has proposed policies like the Buffett Rule that would ask the wealthiest Americans to pay their fair share while protecting families making under $250,000 from seeing their taxes go up. Under the President’s own tax proposals, including limitations on the value of tax preferences for high-income households, he would pay more in taxes while ensuring we cut taxes for the middle class and those trying to get in it.

This week, the President, Vice President and First Lady continued to call for action to reduce gun violence, while the President announced the Fiscal Year 2014 Budget, conferred the Medal of Honor, met with UN Secretary General Ban Ki-moon, and held an Easter Prayer breakfast.

This week, the President wrapped up an historic trip to the Middle East with stops in Israel, the West Bank, and Jordan, and then returned home for a naturalization ceremony, visits with the LA Galaxy and Kings, African Leaders, young ambassadors and Spanish-language television. He finished the week by pressing for commonsense action to protect children from gun violence.