Will state lawmakers approve the Detroit bankruptcy "grand bargain?"

Apr 22, 2014

Credit Peter Martorano / Flickr

It's taken months of bargaining, bickering and posturing, but there have been promising advances in the Detroit bankruptcy journey.

Pieces are starting to fall into place that could complete the so-called "grand bargain" that would protect the DIA collection and soften the blow for Detroit's retirees.

First came word of a tentative deal between the city and its pensioners. A day later, the board that represents police and fire retirees gave a unanimous approval to the deal.

Now it's on to the next hurdle: getting state lawmakers to approve Michigan's share of the grand bargain –$350 million.

Chris Gautz, Capitol Correspondent of Crain's Detroit Business, joined us today.

Listen to the full interview above.