BY SUZETTE HACKNEY
DETROIT FREE PRESS STAFF WRITER

Detroit's $155 million budget deficit will grow to $1.2 billion by 2015 if drastic steps are not taken to cut costs, Mayor Dave Bing told City Council.


Bing, presenting his 2011-12 proposed budget, said the city must immediately find $200 million in order for the budget to be balanced. The new fiscal year begins July 1.

"We face challenges unlike any the city has ever seen, challenges that demand bold action and a business approach that this administration is prepared to take," Bing said. "We do not have the luxury of waiting for someone else to solve our problems."
Bing is proposing a one-year increase of up to 3% to the city's portion of the gaming tax. The increase, which would require legislative approval, would generate $20 million in additional city revenue.
Continued at: http://www.freep.com/article/2011041...sey=nav%7Chead




See also:

JoAnn Watson: Detroit deserves bailout 'at least' as big as GM
In the past, Watson has said the city deserves at least $1 billion.
http://www.detnews.com/article/20110...--as-big-as-GM