The U.S. Postal Service is set to inform Congress that it’s facing a severe financial crisis, with projections indicating it will run out of cash in under a year unless major reforms are implemented.
Postmaster General David Steiner is scheduled to testify before a House Oversight subcommittee, where he’ll outline the critical need for several changes. He’s pushing for higher stamp prices, an increase in the USPS’s borrowing capacity, and crucial reforms concerning pension funding, liability calculations, workers’ compensation, and retirement fund investment strategies.
