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Detroit still needs $350M from state lawmakers

By DAVID EGGERTED WHITE
Published April 16, 2014 10:22pm ET
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Detroit still needs $350M from state lawmakers
FILE- In this Oct. 23, 2013 file photo, Dennis Marton walks with protesters at a rally outside The Theodore Levin United States Courthouse in Detroit. The city of Detroit reached tentative agreements to preserve pensions for retired police office and firefighters but cut monthly payments for other former employees, officials said Tuesday, April 15, 2014. (AP Photo/Paul Sancya, File) | Paul Sancya

DETROIT (AP) — Pressure was building Wednesday for Michigan lawmakers to commit $350 million to Detroit pensions, a day after the city reached tentative agreements with pension funds and a retiree group to reduce payouts.

The city has an $816 million pledge from foundations, philanthropists and Gov. Rick Snyder to shore up pension funds and prevent the sale of city-owned art as part of Detroit’s strategy for exiting the largest public bankruptcy in U.S. history.

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Budgets and Deficits Detroit Detroit Bankruptcy Entitlements Michigan