The NY Billionaire Mark-to-Market Tax Act: Revenue, Economic, and Constitutional Analysis

As legal and economic scholars from across the nation, we write to express our support for the New York Billionaire Mark-to-Market Tax Act ( S8277A / A10414 ) — the surest and fastest way to fill New York state’s ballooning deficit and ensure safety and security for all its residents. This report consists of revenue, economic, and constitutional analysis of the New York Billionaire Mark-to-Market Tax Act, by the authors, as well as a cover letter to NY Governor Cuomo, Speaker Stewart-Cousins, and Speaker Heastie, also written by the authors, and signed onto by all of: Amitava Dutt, Notre Dame University, Professor of Economics Brian Galle, Georgetown University, Professor of Law Calvin Johnson, University of Texas-Austin, Professor of Law Cristobal Young, Cornell University, Professor of Sociology Daniel Hemel, University of Chicago, Professor of Law Daniel Markovits, Yale University, Professor of Law Daniel Shaviro, New York University, Professor of Law David Abraham, University of Miami, Professor of Law David Hasen, University of Florida, Professor of Law Edward Wolff, New York University, Professor of Economics Erin Scharff, Arizona State University, Professor of Law Ethan Kaplan, University of Maryland, Professor of Economics Gabriel Mathy, American University, Professor of Economics Gabriel Zucman, University of California Berkeley, Professor of Economics Gerald Epstein, University of Massachusetts-Amherst, Professor of Economics Gladriel Shobe, Brigham Young University, Professor of Law Goldburn Maynard Jr., Indiana University, Professor of Law Hal Salzman, Rutgers University, Professor of Public Policy Herbert Gintis, University of Massachusetts-Amherst, Professor of Economics Irene Hueter, Columbia University, Professor of Statistics James Boyce, University of Massachusetts-Amherst, Professor of Economics Jay Soled, Rutgers University, Professor of Taxation Jennifer Bird-Pollan, University of Kentucky, Professor of Law John Brooks, Georgetown University, Professor of Law Julie Nelson, University of Massachusetts-Boston, Professor of Economics Kathleen Delaney Thomas, University of North Carolina, Professor of Law L. Randall Wray, Bard College, Professor of Economics Lawrence Mishel, Economic Policy Institute, Economist Lawrence Peter King, University of Massachusetts-Amherst, Professor of Economics Linda J. Bilmes, Harvard University, Professor of Public Policy Manoj Viswanathan, University of California Hastings, Professor of Law Mark Setterfield, The New School For Social Research, Professor of Economics Marlene Kim, University of Massachusetts-Boston, Professor of Economics Maurice Stucke, University of Tennessee, Professor of Law Mitchell Kane, New York University, Professor of Law Neil Buchanan, University of Florida, Professor of Law Patricia Cain, Santa Clara University, Professor of Law Peter Skott, University of Massachusett-Amherst, Professor of Economics Phillip Moss, University of Massachusetts-Lowell, Professor of Economics Sanjukta Paul, Wayne State University, Professor of Law Steven Fazzari, Washington University in St. Louis, Professor of Economics Talha Syed, University of California Berkeley, Professor of Law Thomas Herndon, Loyola Marymount University, Professor of Economics Thomas Masterson, Bard College, Professor of Economics Thomas Piketty, Paris School of Economics, Professor of Economics Vamsicharan Vakulabharanam, University of Massachusetts-Amherst, Professor of Economics William Lazonick, University of Massachusetts, Professor of Economics