The Postal Service, seeing no sustainable path under its current business model, is offering Congress and the incoming Biden administration a shot at working together on a long-term strategy to reform the way it operates.
USPS ended fiscal 2020 with a $9.2 billion net loss, its 14th consecutive year in the red, despite a historic volume of election mail and mailed-in ballots.
Postmaster General Louis DeJoy warned Friday that the losses will continue if Congress, the White House and its postal regulators do nothing.
USPS projects a $9.7 billion loss by the end of this fiscal year, and by that point has warned it won’t have enough cash to keep operating.
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