Bipartisan deal on USPS reform could ease pressure for more drastic changes

WASHINGTON (SBG) — A new bipartisan agreement in Congress could relieve the United States Postal Service of one of its largest financial burdens as the agency seeks a path to long-term stability, but experts say steep price hikes and service cuts could still loom in the years ahead.

Senate Homeland Security and Governmental Affairs Committee Chairman Gary Peters, D-Mich., and ranking Republican Sen. Rob Portman, R-Ohio, announced the introduction of the Postal Service Reform Act Wednesday. The bill would repeal a 2006 requirement imposed by Congress for USPS to prepay retiree health care costs annually and transition future retirees into Medicare.