State House Approves $195 Million in Aid for Detroit

On Thursday, the Michigan House of Representatives approved a package worth just under $195 million that would aid Detroit in its attempt to emerge from bankruptcy. The package would protect pensioners and keep the city on its path toward revitalization. Of the legislation, Michigan Governor Rick Snyder said “we saw lawmakers from across our state coming together to help make a brighter future for Detroit, and all of Michigan.” Snyder went on to thank House members for their bi-partisan work on the settlement that will help the pensioners “and ultimately save taxpayers millions of dollars.”

Others have come also out to praise the package which would include state oversight for 13 years of the city. State Representative Joe Graves of Argentine Township said the Detroit settlement was the right thing to do. “Simply put, this was the right thing to do to protect Michigan taxpayers from paying billions of dollars to put Detroit back on track. To do nothing could mean the court case would drag on for years, or even decades, costing taxpayers million more and that is unacceptable.”

According to the Detroit News, Governor Snyder is urging the Republican-led Senate to act swiftly on the legislation.

What are your thought on nearly $200 million in state funds going to Detroit?