Responses to Senator Cassidy's Questions for the Record to Professor David Gamage

This white paper responds to questions asked by Senator Cassidy in regard to testimony that Professor Gamage presented to the Senate Finance Fiscal Responsibility and Economic Growth Subcommittee on April 27, 2021. The questions are on estate and wealth taxes and liquidity concerns, on concerns related to “double taxation”, and on endowments and the tax benefits provided to tax exempt institutions such as universities and churches.