As Detroit and Michigan officials work against the clock to come to an agreement to stabilize the city’s finances, Rep. Hansen Clarke, D-Mich., introduced a bill that would secure up to $500 million in federal funding for the city.

The Detroit Growth and Stability Act of 2012, or HR 4308, would provide federal loans so the city can meet its short-term debt and funding obligations, as well as some operating costs.

“All I’m asking is for Congress and the administration to give Detroit a second chance to create the jobs it created in the past, not only for the region, but for the country,” Clarke was quoted as saying in a Detroit newspaper.

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