A new nationwide opinion poll shows that the public overwhelmingly supports funding for the U.S. Postal Service in the next stimulus bill to prevent USPS from running out of cash. Continue reading
Today, Postmaster General Megan J. Brennan provided a video briefing to Members of the Committee on Oversight and Reform and Reform on the devastating impact the coronavirus crisis has had on the finances of the Postal Service and the steps Congress and the President must take to ensure continued delivery of essential information, packages, and services.
“The Postal Service is fighting for its survival, putting in jeopardy the careers and paychecks of its 650,000 employees—as well as the more than $1.7 trillion mailing industry that employs more than 7.5 million people,” Government Operations Subcommittee Chairman Gerald E. Connolly said. “We cannot allow the Postal Service to collapse. To do so would deepen our nation’s economic crisis and eliminate an important lifeline for individuals who rely on the Postal Service’s 1 billion deliveries of lifesaving prescription deliveries and eviscerate the very infrastructure we need to administer the upcoming elections.”
“I want to commend the brave men and women of the Postal Service for all they are doing in the midst of this pandemic,” Chairwoman Carolyn B. Maloney said. “The Postal Service is holding on for dear life, and unless Congress and the White House provide meaningful relief in the next stimulus bill, the Postal Service could cease to exist.”
“Reminiscent of their courageous service in response to 2001 anthrax attacks, the dedicated employees of the U.S. Postal Service are serving a critical role in our nationwide pandemic relief efforts—from delivering essential medical supplies and protective equipment to facilitating voting by mail in preparation for the 2020 election,” National Security Subcommittee Chairman Stephen F. Lynch said. “As we develop additional stimulus legislation, it is imperative that we include robust funding for the Postal Service, our most trusted government institution, to ensure the continuation of vital services for the American people and protect the right of every citizen to vote in 2020.”
“Every day, the dedicated employees of the Postal Service are on the front lines of the COVID-19 pandemic to ensure all Americans receive their mail and packages, as well as critical medical supplies that are being shipped across the country,” Committee Member Brenda L. Lawrence said. “During a Census and election year, it is imperative that we have a fully functional Postal Service to ensure Americans across the country can participate in our democracy.”
Postmaster General Brennan provided the following information during the briefing:
The Postal Service will “run out of cash this fiscal year” without help from Congress and the Administration.
The Postal Service anticipates “a $13 billion revenue loss directly to COVID-19 this fiscal year and a $54.3 billion additional losses over ten years.”
The bipartisan Postal Service Board of Governors—appointed by President Trump—asked Congress to provide the Postal Service with:
The Postal Service comprises more than 31,600 retail locations and directly employs more than 650,000 people. The Postal Service undergirds a more than $1.7 trillion mailing industry that employs more than 7.5 million people.
During the meeting, Members pressed for the Board of Governors’ requests for assistance to be included in the next coronavirus legislation.
April 8, 2020 Episode 71
House Government Operations Subcommittee Chairman Gerry Connolly joins NAPS Director of Legislative and Political Affairs Bob Levi on this week’s edition of NAPS Chat Continue reading
- Revenue of $19.4 billion; package revenue of $6.6 billion
- Net loss of $748 million reflects continued systemic challenges
- Work hour reduction of 6.4 million demonstrates continued aggressive management actions
The large loss posted by the U.S. Postal Service in Fiscal Year 2019 ($8.8 billion) is largely the result of external factors, not the normal operations of the agency. Continue reading
WASHINGTON — The United States Postal Service filed notice with the Postal Regulatory Commission (PRC) today of price changes to take effect Jan. 26, 2020. Continue reading
Barron’s reports on the impact USPS losses have on competitors UPS and FedEx, and along the way offers a surprisingly realistic summary of the current situation, and how we got here:
The Postal Service’s third quarter financial report shows the need for policymakers to address two public policy issues beyond USPS control—the stamp price rollback and the congressional mandate that USPS pre-fund future retiree health benefits decades into the future.
The Wall Street Journal reports that the US Postal Service is reporting the first drop in package volume in nine years as competitors deliver more packages themselves, rather than handing them off to the USPS for the “last mile”. Continue reading
- Revenue of $17.1 billion, essentially unchanged compared to same quarter last year
- Net loss of nearly $2.3 billion
- USPS remains focused on aggressive management actions and legislative and regulatory reforms to provide Americans with a financially sustainable Postal Service