First Family’s Net Worth Reported Up $1 Million From ’81

The First Family’s net worth may have increased as much as $1 million since President Reagan took office, it was reported today, and the chief executive’s personal income tax payments could drop $28,000 next year.

Money magazine said the reduction will be possible if Congress accepts key aspects of the President’s tax reform proposal, including a personal exemption of at least $1,800 and a top rate of 35% for individuals.

In examining their 1984 tax return, the magazine said the Reagans are better off financially than they were four years ago and estimates the couple’s net worth at about $4.4 million, as much as $1 million higher than when Reagan took office in 1981.

The magazine attributed the large increase in net worth mainly to growth in investments and the fact that the government pays most of the Reagans’ expenses, in addition to his $200,000 annual salary.