The Michigan House on Thursday approved sweeping legislation that would send $194.8 million to Detroit in a bid to minimize pension cuts for retirees and help end the largest municipal bankruptcy case in United States history. Philanthropic foundations and the Detroit Institute of Arts have pledged $466 million for the grand bargain in order to protect prized art from a potential fire sale, and two union groups this week agreed to make or facilitate “material contributions” for retiree health care.
|
|
Michigan House approves $195 million for Detroit ‘grand …
The Michigan House on Thursday approved sweeping legislation that would send $194.8 million to Detroit in a bid to minimize pension cuts for retirees and help end t…
|
||||
|
Preview by Yahoo
|
|||||