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Policy: Entitlements

Snyder: Vote recognizes efforts to help Detroit

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News,Business,Detroit,Entitlements,Detroit Bankruptcy,Pensions,Rick Snyder

LANSING, Mich. (AP) — Michigan Gov. Rick Snyder says a vote by Detroit workers and retirees to approve pension cuts in the city's bankruptcy is recognition that the state has pulled together in support of the city.

In a statement Tuesday morning, Snyder said: "We have farther to go down this road. But the vote tallies show how far we've come in the past year." He says the city's future is "increasingly brighter" amid difficult decisions and sacrifices that are being made.

The city late Monday reported that pension cuts were approved in a landslide. The tally from 60 days of voting gives the city a boost as Judge Steven Rhodes determines whether Detroit's overall strategy to eliminate or reduce $18 billion in long-term debt is fair and feasible to all creditors.

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