House Oversight Committee to hold hearing on postal “reform” Tuesday

The House Oversight Committee will hold a hearing on Tuesday, February 7 at 10AM ET to consider the latest postal “reform” bill.

From the Committee announcement:

PURPOSE:

  • To examine the need for timely and comprehensive postal reform legislation.
  • To discuss provisions that stakeholders believe are necessary in a comprehensive reform bill.

BACKGROUND:

  • USPS reported a net loss of $5.3 billion for FY2016, representing the tenth consecutive year of net losses.
  • USPS has more than $120 billion in unfunded liabilities, including a $21.3 billion pension funding shortfall.
  • USPS has been unable to make statutorily required payments to unfunded liabilities and is poised to run increasingly large operational deficits in the coming years, having already exhausted its $15 billion in statutory borrowing authority.

INVITED WITNESSES:
The Honorable Megan J. Brennan
Postmaster General
United States Postal Service

The Honorable Robert G. Taub
Chairman
Postal Regulatory Commission

Ms. Lori Rectanus
Director, Physical Infrastructure Issues
U.S. Government Accountability Office

Mr. Arthur Sackler
Manager
Coalition for a 21st Century Postal Service

Mr. Fredric V. Rolando
President
National Association of Letter Carriers

 

  • mark

    eliminate mail delivery on saturdays !!! deliver parcels 7 days a week,its the only growth.

  • http://www.astro-nut.com/ Retired USPS ET

    Ummm… so the USPS actually made a $200 million profit for the year then.

    You see, after Congress passed PAEA (the Postal Accountability and Enhancement Act) in 2006, the USPS became obligated to pre-fund health care benefit for retirees 75 years into the future. That’s right, 75 YEARS!!! For workers not even born yet! The government then assessed the USPS to the tune of $5.5 billion dollars per year to amass the money. Mind you, not unlike Social Security and other government programs, the money isn’t being safely tucked away somewhere, but is drawn upon like a personal piggy bank to fund various congressional follies. In the meantime, the USPS is being dismantled board by board with historic properties being sold for pennies on the dollar to the well connected.

    Some are fast to point out the impact the internet has had on first class mail, and they are correct. But the internet has also caused an explosion of on-line orders requiring parcel handling at dramatically increased levels. FedEx and UPS routinely avail themselves of the USPS as last-mile delivery providers.

    And BTW, the USPS is mandated to be profit-neutral and, since the Postal Reorganization Act of 1970, is NOT supported in any way by taxpayer dollars

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  • postalnews

    The USPS doesn’t have a mandate to be “profit neutral”. The original 1971 act that created the USPS did call for setting rates so that revenue matched expenses, but that was simplified in PAEA, which calls for rate increases to be limited to inflation for market dominant products. Competitive products are required to cover their costs, but the USPS can charge more for them if the market’s willing to pay.

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