Postal Report Pitches Eliminating Nonprofit Price Caps
A presidential task force has recommended doing away with price caps on mail products, among a number of suggestions included in a report to put the United States Postal Service (USPS) on better financial footing.
The USPS has lost $69 billion over the past decade as mail volume and revenues continued to decline. Currently, the USPS must submit rate change requests to the Postal Regulatory Commission (PRC). Rates hikes generally have been limited to the rate of inflation thanks to the last time postal reform was enacted in 2006 with the Postal Accountability and Enhancement Act (PAEA).
President Donald Trump issued an executive order in April to establish a Task Force on the U.S. Postal System, chaired by Treasury Secretary Steven Mnuchin and included the director of the Office of Management and Budget (OMB) and the director of the Office of Personnel Management (OPM).