Why state aid for Detroit retirees is not a done deal yet - New York News

Why state aid for Detroit retirees is not a done deal yet

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LANSING, Mich. (WJBK) - Gov. Rick Snyder wants lawmakers to spend $200 million or so to reduce the cut that Detroit pensioners will take under Chapter Nine Bankruptcy. The money is also said to protect the art work at the Detroit Institute of Arts.

But, a new problem now threatens to blow up the deal - the Senate Republican leaders wants to impose an oversight management team to monitor the state investment of those pension funds.

Detroit senators want no part of that.

In addition to those challenges, some out state senators' constituents simply don't want to help bailout the city.

Add it all up - state aid for Detroit retirees is not a done deal, and the governor knows it.
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