Senate To Review Detroit Bankruptcy’s “Grand Bargain” Today

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    A state Senate committee is schedule to review a package of bills today regarding state funding to aide in settling the Detroit bankruptcy through a “grand bargain” which would provide some protection to city pensioners and the DIA. According to the Detroit Free Press:

    A Senate committee is scheduled to take up a package of bills today providing for $194.8 million in state funding to help settle the Detroit bankruptcy through a “grand bargain” to protect city pensioners and Detroit Institute of Art treasures.

    The bills passed the state House with overwhelming support on May 22, with the main financial bill passing 103-7. That vote created optimism as the package of bills move to the Senate, but approval there is not guaranteed.

    Emergency Manager, Kevin Orr, has insisted that if the “grand bargain” isn’t approved there will be sever cuts. However upon approval, pensioners will still likely face cuts to including changes in health care coverage.

     

     

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