05/31/2012 02:53 pm ET

Mayor Dave Bing Says He'll Sign Budget With $250M In Cuts

By Suzette Hackney and Matt Helms

For the first time in recent history, Detroit's executive and legislative branches of government quashed potential squabbles over the city's budget and agreed to make $250 million in cuts in an effort to steer Detroit back toward fiscal stability.

Detroit Mayor Dave Bing this morning said he intends Friday to formally adopt the budget, which contains key public lighting, transportation and public safety initiatives. Bing is attending the Mackinac Policy Conference on Mackinac Island.

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