Tue, 03 Jun 2014 11:31:31 GMT — A committee in the Michigan Senate is poised to vote on legislation to provide $195 million in state money to help bankrupt Detroit's retirees and city workers. The panel on Tuesday will hold its first hearing on bills intended to prevent steeper cuts to pensions in the bankruptcy case. The committee could quickly send the legislation to the full Republican-led Senate for a vote later in the week. The state funds would be joined with hundreds of millions of dollars from foundations and the Detroit Institute of Arts, which have pledged the money to also prevent the sale of valuable city-owned art. Detroit's finances would be overseen by a state-dominated board under the legislation. The Republican-led House approved the bills two weeks ago in bipartisan votes.
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