Statement by Congressman Dan Kildee on Detroit Bankruptcy
Congressman Dan Kildee (MI-05) issued the following statement today after the city of Detroit filed for Chapter 9 bankruptcy:
“Today is a day of reckoning for the nation, the state of Michigan and the city for Detroit. The city’s bankruptcy is unprecedented and will have real consequences for the people of Detroit and for all Michiganders. While Detroit’s problems may be extreme, they are certainly not unique. Municipalities in Michigan and across the country are increasingly facing insolvency that requires us to rethink the way we support our cities, something I have long advocated for.
“While it’s arguable that this bankruptcy may be necessary, it’s certainly not a solution. It doesn’t change the fundamental problem of a shrinking population and tax base, or a municipal finance system that fails to recognize the realities of the twenty-first century. While you can dissolve a corporation through bankruptcy, you cannot simply ‘dissolve’ a place where hundreds of thousands of people live, work and raise their families.
“Today’s announcement makes it clear that we can no longer sit idly by as America’s great cities continue to decline. As a state and country, we must find new ways to lift and strengthen our nation’s legacy cities.”