Sweeney: Interest Arbitration Will Pass Senate

Steve Sweeney (left) and Chris Christie (right)

By Art Gallagher | MoreMonmouthMusings.com

Steve Sweeney (left) and Chris Christie (right)
Steve Sweeney (left) and Chris Christie (right)

Senate President Steve Sweeney told MMM today that he expects a key provision of New Jersey’s 2%  property tax cap that is set to expire on April 1 to be extended.

The interest arbitration provision of the property tax reforms passed with bi-partisan support three years ago caps arbitration awards in government labor disputes to 2%. Since they’ve been implemented the average arbitration award resulted in salary increases for local government employees to 1.86%–the lowest in 20 years. The provision will expire on April 1 unless extended by legislation.

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Art Gallagher
About Art Gallagher 432 Articles
Art Gallagher is a Highlands businessman, former President at Northern Monmouth Chamber of Commerce and the force behind the very popular Central Jersey political blog MoreMonmouthMusings.com.

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