State House to Consider Detroit Bailout

State House to Consider Detroit Bailout – May 22, 2014 – Todd VanDyke
A House committee has approved an 11-bill package, which would allocate nearly 195-million dollars to help bail out the city of Detroit. The money would help Detroit move away from its failing employee retirement plan… which was one of the major factors in forcing the city into bankruptcy. The bill would also keep in place an oversight commission that will continue to watch Detroit’s spending. The commission would be expanded to nine members… and would include a representative from the Detroit City Council. The bills now move to the full House for deliberation.