Detroit Mayor Dave Bing will present his budget for the city later this morning. The Associated Press reports the budget will propose a five-year plan to wipe out the city's $150 million budget deficit. From the AP:
Tuesday morning's presentation is the first step in the city's budget approval process heading into the new fiscal year that starts July 1. It follows Gov. Rick Snyder's signature last month on a state law that gives more power to state-appointed financial managers, letting them toss out union contracts to help balance the books of distressed communities and struggling school districts. Bing has fought often with city unions over concessions designed to cut into the deficit. A union protest of Bing's proposed 2011-12 budget is planned Tuesday's afternoon outside the Coleman A. Young Municipal Center.
