Statement of NALC President Fredric Rolando on FY 2022 Q2 report

“The USPS financial report for the second quarter of Fiscal Year 2022 shows revenue increasing by 4.7 percent from last year’s second quarter, with First Class Mail and Marketing Mail leading the way but joined as well by a package revenue increase, reflecting how much the American people and their businesses rely on the Postal Service. At the same time, the net loss of $639 million shows the importance of the recently signed postal reform law that will address the artificial red ink caused by the 2006 congressional mandate that USPS pre-fund future retiree benefits—a burden faced by no other U.S. company or agency. Any impact of that legislation, which was signed into law after the second quarter ended, will be shown in the next quarterly report.”