WASHINGTON, D.C. – April 1, 2014 – (RealEstateRama) — Asembly Republican Declan O’Scanlon applauded the actions of the more than 40 municipalities and counties that had to scramble over the weekend and today in order to formally file for interest arbitration.
“It’s regrettable that taxpayer resources had to be expended in this way due to the Assembly leadership’s failure to pass the compromise interest arbitration award cap bill that the Governor and the vast majority of Democrats and all Republicans in the Senate agreed upon. This action was necessary as a precaution to insulate property tax payers from any impact of the arbitration award cap expiration. There is the potential that some labor unions may be tempted to file frivolous lawsuits in an attempt to take advantage of the interest arbitration cap expiration. The action these bargaining units took today will help to make doubly sure they won’t be vulnerable to such action.”
