AUSTIN, Texas (KTRK) -- Houston Mayor Sylvester Turner asked state legislators Monday to approve "Houston's Pension Solution."
The city council approved the plan that would address a $4 billion shortfall, caused through rising pension obligations.
Now, state leaders must approve the plan.
"This is not new debt, this is what we owe police," Turner said. "Even if the voters were to say no in November on the pension obligation bond, we still owe. The only reason why we're entertaining it is because it's cheaper debt right now."
The city's plan pays off $8.1 billion in unfunded liabilities for pensions and does it without raising taxes, according to Turner's office.
Turner will return to Austin next week to continue his push, he said.
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