Snyder says he's ready to sign $195M grand bargain deal for Detr - New York News

Snyder says he's ready to sign $195M grand bargain deal for Detroit

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SOUTHFIELD, Mich. (WJBK) - Now that the state Senate passed a bill approving $195 million in state funding for Detroit Gov. Rick Snyder tells FOX 2 he is ready to give his signature to the deal.

"This was a wonderful bipartisan effort of both the House and the Senate, a wonderful support in terms of teamwork from the mediators, from the mayor, from Kevyn Orr - and it's a great outcome. Getting the grand bargain done is important to all Detroiters and Michiganders," Snyder said Wednesday.

Even with the governor's approval the grand bargain isn't a done deal yet. The pensioners still need to approve the deal - and the governor is urging them to do so.

"That's the next step, is the retirees and the pensioners voting. I encourage them to vote 'yes'. It's critically important because it's to their own best interest. If they vote 'no' the grand bargain could go away and they could be financially worse off. And it's already difficult enough. I really appreciate the challenges of going through this bankruptcy from their perspective. This is an opportunity to have them be better off. So, a 'yes' vote makes the retirees better off, it makes the city better off - it makes the state better off. It's a win for all," Snyder says.  

The governor is expected to sign the bill sometime this week.

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