Sourcehttps://www.reuters.com
WASHINGTON, Nov 10 (Reuters) – The US Postal Service asked Congress on Tuesday for $2 billion in support and reimbursements as its head warned the agency would be forced to make significant cuts in retail post offices and other reductions unless lawmakers act.
USPS said for the 12 months ending September 30 it had a net loss of $6.5 billion versus a net loss from the prior 12 months of $9 billion.
The new Democratic-led Congress, which takes office in January, will need to decide whether to help the Postal Service after Republicans held a series of hearings over the last two years on its finances. USPS wants $2 billion from Congress for unfunded requirements it has imposed.
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A largely self-funded USPS is asking the incoming Democrat-controlled Congress for substantially more funding as the agency looks to avoid running out of cash.
Keep US Posted Urges New Congress to Put USPS on a Path to Solvency After $6.5 Billion FY2026 Loss
Following the U.S. Postal Service’s announcement today of a $6.5 billion loss for fiscal year 2026, Keep US Posted, a nonprofit advocacy group of consumers, nonprofits, newspapers, greeting card publishers, magazines, catalogs and small businesses, urges lawmakers to prioritize critical reforms to stabilize USPS when the new Congress convenes in January. magazines, catalogs and small businesses, urges lawmakers to prioritize critical reforms to stabilize USPS when the new Congress convenes in January.
USPS Reports Fewer Hours and Higher Labor Costs, Retirement Squeeze in FY2026
The Postal Service has said it cut 19 million work hours in fiscal 2026 as it continued consolidating its processing and transportation networks, but
Sourcehttps://www.reuters.com
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