Rachel Snyderman
speaker
24 appearances
3 recordings
2 series
first heard Feb 2025
last heard 24 Mar
Rachel Snyderman’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Mar 2026 with 1.
Appearances
So far this tax season, refunds have been trending higher.
Rachel Snyderman is Managing Director of Economic Policy at the Bipartisan Policy Center.
And one reason for those bigger refunds changes to the state and local tax deduction, or SALT deduction.
It used to be taxpayers could only write off $10,000 of their state and local taxes when calculating their federal taxes, but the One Big Beautiful Bill Act boosted that to $40,000, with some limits.
So for folks who file this year...
Garrett Watson is director of policy analysis at the Tax Foundation.
And those filers tend to have higher incomes.
Tim Simons is the founder of the Simons Group Tax Advisory in the D.C.
area.
Simons mainly works with higher income clients and says many of them are getting bigger than usual refund checks thanks to the increased SALT deduction.
But those bigger refunds come at a cost.
According to the Bipartisan Policy Center, their estimated budget impact is about $140 billion over the next decade.
In Washington, I'm Kimberly Adams for Marketplace.
This is Planet Money from NPR.
Well, the distinction with Nixon is also the frequency and the scope at which he impounded funds. I mean, in 1973, he impounded nearly one third of all discretionary spending.
And really refresher of, you know, what are the real checks and balances when it comes to the federal budget process as we head into a very busy year for fiscal policy and, of course, a new administration.
When he impounded funds, there were several court challenges that went even all the way up to the Supreme Court. And the courts were repeatedly upholding the fact that the president did not have the authority to unilaterally make decisions about spending money.
Yeah, so they cannot do it alone. The president must, they must go through the process and work with Congress.
The president can choose to defer temporary delay certain spending if they have the explicit intent that they are going to spend all of that funding within the fiscal year.
If Congress chooses to do nothing or does not approve that package as a whole or in part, that funding must then be released to federal agencies and spent. So Congress decides still. Congress decides, yes. And throughout this entire time, the Government Accountability Office is serving as the external watchdog to make sure that this is happening.
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