Harrisburg files for bankruptcy

NEW YORK (CNNMoney) — The city council of Harrisburg, Pennsylvania, voted to file for bankruptcy protection Tuesday night.

The state capital of Pennsylvania, with just under 50,000 residents, was facing a possible takeover of its operations by the state government under a receivership. It had been designated as “financially distressed” by the state in December. The vote was 4 to 3 in favor of the bankruptcy.  Read more

Categories: Economics, United States

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