Obamas pay $93,362 in federal taxes; tax rate of 20 percent

April 10, 2015 9:54 PM

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President Barack Obama and his wife, Michelle, paid more than $93,000 in federal taxes last year on an adjusted gross income of more than $477,000, according to tax returns released Friday by the White House.

The Obamas lowered their 2014 tax bill by claiming nearly $160,000 in itemized deductions, including $70,712 in charitable donations to 33 different charities. Altogether, they donated nearly 15 percent of their income.

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