NYC’s Second Home Tax Picks Up Steam & Is LIV Golf About to Collapse?

This episode of Morning Brew Daily dives into two major stories: New York City's proposed 'pied-à-terre' tax targeting second homes valued over $5 million owned by non-residents, a move backed by Governor Kathy Hochul and Mayor Zoran Mamdani amid a growing political consensus and public frustration with housing inequality. The tax, which could raise $500 million but may only bring in $232 million according to independent analysis, is framed as a progressive revenue tool amid a $5.4 billion budget shortfall. Meanwhile, Yale University faces scrutiny for declining public trust, with a committee report blaming elite institutions for rising costs, opaque admissions favoring the wealthy, and stifled free expression. The episode also explores the stock market’s surprising rebound—driven by AI optimism, strong bank earnings, and war de-escalation hopes—highlighting tech giants like Nvidia, Tesla, and quantum startups. In contrast, Liv Golf appears to be in crisis as Saudi Arabia’s Public Investment Fund (PIF) plans to end its funding, signaling a strategic pivot toward domestic projects. The segment closes with cultural updates, including Tom Cruise’s return for Top Gun 3, a Spaceballs reboot with 99-year-old Mel Brooks, and a viral FAA investigation into pilots meowing in the cockpit.