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D'Amato addresses Windsor Crest.

U.S. Senator Alfonse D'Amato (RNY) called for a wide range of real estate, tax and other incentive programs to help jump-start the sluggish economy.

Speaking before an attentive audience at a recent reception in the clubhouse of Windsor Crest, the Senator -- now seeking his third term -- acknowledged the problems caused by past tax reforms and offered several ideas on how to initiate a desperately-needed economic recovery.

"There is no question that the tax reform acts of 1986 and 1990 exacerbated an already declining real estate market, leading us further into the recession," said the Senator. "When you damage an industry that accounts for 30 percent of the nation's gross national product, everything else is bound to be dragged down as well."

Turning the real estate industry around could be achieved by bringing back old tax incentives, instead of relying on new taxes, the Senator contended.
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Title Annotation:U.S. Senator Alfonse M. D'Amato addresses audience at Windsor Crest clubhouse in New York, New York
Publication:Real Estate Weekly
Date:Oct 7, 1992
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