Vallejo Considers Health Cuts To Address City Bankruptcy
Vallejo city officials are evaluating a five-year budget plan from interim City Manager Phil Batchelor that, in part, would cut payments for retiree health care premiums to reduce city spending by roughly $100 million annually. The city filed for Chapter 9 bankruptcy in May 2008. The City Council is expected to discuss the proposal on Nov. 30, and if approved, the plan could be submitted to a U.S. bankruptcy judge in January.
- "Bankrupt Vallejo, California, Weighs Five-Year Fiscal Plan To Restructure" (Vekshin/Marois, Bloomberg, 11/17).