Tags: Prez | and | Veep | Pay | Uncle | Sam

Prez and Veep Pay Uncle Sam

Friday, 13 April 2001 12:00 AM

The two-page 1040 form showed that the Bushes reported $744,662 in income, which included the president's salary as governor of Texas and investment income from trusts in which their assets are held, White House officials said.

The couple will receive from the Internal Revenue Service a refund check worth $117, 314.

The couple listed their two daughters, Barbara and Jenna, as exemptions and the form showed $75,000 in income from advance book royalties for "A Charge to Keep: My Journey to the White House," which Bush penned along with his senior adviser Karen Hughes.

The Bushes made $143,000 in charitable contributions, including the book royalties, which were donated to the Girl Scouts of America, the Boys and Girls Clubs of America, and Girls Inc.

Vice President Richard Cheney and his wife, Lynne, paid the Internal Revenue Service $14.2 million in taxes on their 2000 income of $36 million, according to a summary of their tax return.

The law firm of Williams and Connolly reported that the Cheneys had an adjusted gross income of $36 million, with about $9.6 million already withheld or "otherwise paid." The couple paid the $4.6 million balance when they filed their tax forms, White House officials said.

The Cheneys' income was derived from his $806,332 in salary and $4.3 million in deferred compensation and bonuses from the Halliburton Co., where he served as chief executive officer until his resignation in August.

Cheney in January received a $1.4 million cash bonus from the company, which will be listed on his 2001 tax return, White House officials said.

The balance came from Halliburton stock options and the sale of restricted stock that Cheney received as part of his compensation package put in place before his nomination.

The couple donated $7.8 million in stock options to the Capital Partners for Education, a group that provides educational assistance to low-income high school students, the George Washington University Medical Faculty Associates and the University of Wyoming. They made $41,646 in unspecified other donations.

Copyright 2001 by United Press International.

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The two-page 1040 form showed that the Bushes reported $744,662 in income, which included the president's salary as governor of Texas and investment income from trusts in which their assets are held, White House officials said. The couple will receive from the Internal...
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2001-00-13
Friday, 13 April 2001 12:00 AM
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