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Prieto Hails Final Legislative Approval of Arbitration Cap Compromise

Assembly Speaker Vincent Prieto (D-Hudson/Bergen) released the following statement Thursday after the compromise legislation he sponsored (A-3424) to revise state law governing police and fire interest arbitration, incorporate compounding in base salary calculations and extend the 2 percent cap on base salary awards received final legislative approval:

“This is another step toward doing the right thing for both our taxpayers and the police and firefighters who do so much to protect our safety. I was pleased by the continued support and I want to thank the governor for working with us to get this accomplished.

“I’ve made clear that this bill had to be fair to everyone. Our taxpayers deserve this protection, but we also had to recognize that police and firefighters do a difficult job. They run toward danger when everyone else is running away, and put their lives on the line each and every day. They deserved a bit more consideration and this bill gives it to them, while ensuring taxpayers get the help they need.

“This is a win for everyone.”