Senator Coleman Young is one of two lawmakers who voted against the package.
Michigan’s Senate has approved spending $195 million to help shore up Detroit’s pension funds, a key legislative step in a deal designed to end the largest public bankruptcy in U.S. history.
A committee in the Michigan Senate is poised to vote on legislation to provide $195 million in state money to help bankrupt Detroit’s retirees and city workers.
An online bidding war sparked growing virtual interest — crashing a Detroit auction website.
The Detroit Institute of Arts has filed a response to objections by Detroit creditors to the Grand Bargain.
Detroit Mayor Mike Duggan says he believes it really helped out that he and city council showed a unified front in supporting the measure, approved by the Michigan House on Thursday.
Michigan lawmakers have taken an initial step toward helping bankrupt Detroit by committing $195 million in state money to protect city retirees from steep pension cuts.
“You couldn’t ask for a better time to bring these dollars in.”
The effort to torpedo a proposed settlement in the Detroit bankruptcy case could complicate chances for completing the deal, just as its prospects seemed to be improving.
Members of the public testify at a committee hearing in Lansing over Detroit’s “Grand Bargain” and the state’s possible $195-million contribution to the city’s bankruptcy plan.