USPS Threatens Post Office Closures, Price Hikes
Summary
The United States Postal Service (USPS) may close thousands of post offices, reduce services, and raise prices if Congress does not approve new laws and funding to help with its financial problems. Postmaster General David Steiner said the Postal Service needs support to cover costs or else it must make changes to become financially stable on its own.Key Facts
- USPS faces severe financial difficulties, including billions in yearly losses and less mail being sent.
- The agency does not usually get tax money but relies on selling postage and services.
- Congress sets many USPS rules and public-service duties that cost money but do not always bring revenue.
- If Congress provides funding and changes, USPS could maintain service levels; without it, USPS plans to cut services and close many unprofitable post offices.
- Steiner said USPS will present a legislative plan to Congress and President Trump to include funding, employee benefit changes, and borrowing increases.
- USPS wants federal funding to be seen as an investment in a larger postal industry that supports millions of jobs and $2 trillion in sales.
- Any federal support could be adjusted in the future as USPS’s financial situation improves.
- Lawmakers are also examining whether USPS is reliable enough to borrow more money from the government.
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