Bushes report $822,126 in adjusted gross income

Bushes report $822,126 in adjusted gross income
Cheneys report $1.3 million on tax return

Wednesday, April 14, 2004 Posted: 1235 GMT (2035 HKT)

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WASHINGTON (AP) -- President Bush reported $822,126 in adjusted gross income for last year, on which he paid $227,490 in federal income taxes -- or about 28 percent, according to the president's federal returns released Tuesday by the White House.

Bush and his wife, Laura, listed as income his presidential salary, interest and the investment income from trusts that hold their assets.

The Bushes' income and tax bill was slightly lower than the previous year, when they reported $856,056 in adjusted gross income and paid $268,719 in federal income taxes. For 2002, the Bushes paid about 31 percent of their income in federal taxes.

The White House also released the 2003 tax return filed by Vice President Dick Cheney and his wife, Lynne. They reported $1.3 million in adjusted gross income and owed $253,067 in federal taxes. The Cheneys' 2003 tax bill -- much lower than the $341,114 they paid for 2002 on just slightly less money -- represented just 20 percent of their income.
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More:
http://edition.cnn.com/2004/ALLPOLITICS/04/13/bush.income.tax.ap/index.html