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Stockton on Detroit Bankruptcy

Stockton on Detroit Bankruptcy
Posted July 19th, 2013 @ 7:16am

STOCKTON, CA- Stockton and San Bernardino are two California cities that have already filed for bankruptcy. Stockton officials told KFBK they are declining comment on Detroit, saying their situation is entirely different.

Stockton officials ultimately gained some savings by ending contributions to retiree health care and negotiating new contracts with police officers, firefighters and other city employees. Detroit leaders may also have to consider potential tax increases as part of their exit plan, much as Stockton has put forward a sales tax increase on the November ballot to help pay down creditors.

Read more about Stockton Crime Decreasing.

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