Since the Senate Passed Comprehensive Postal Reform, the Postal Service has Lost
$475,002,150 and more
while the U.S. House has Failed to Act
As we learned this week, the Postal Service is moving forward with cutting hours at post offices and offering retirement incentives for some postal workers across the country. Rather than forcing the Postal Service to continue to rely on these sorts of piecemeal, stopgap measures to cut costs, Congress must work to enact comprehensive reform that provides the tools and resources the Postal Service needs to survive in the 21st Century. The Senate has done this. The ball is in the House’s court. Although the Postal Reform Act of 2011 was passed out of the relevant House committee in October 2011, leaders in the House of Representatives have yet to schedule a vote on the bill. The Senate, however, passed a bipartisan postal reform bill, the 21st Century Postal Service Act, on April 25, 2012.
With each day that the House fails to take action, the Postal Service loses $25 million. Further delays could accelerate an already deteriorating financial situation at the Postal Service that would threaten a mailing industry that employs over 8 million people and generates nearly $1 trillion in economic activity each year. Make no mistake, the Postal Service’s financial problems are dire, but they are solvable if Congress acts to pass comprehensive postal reform legislation.
The Postal Service’s Losses, By the Numbers
$6,500,000,000 Total FY 2012 Postal Service Losses So Far
$500,000,000 What New USPS Cost-Cutting Plan for Post Offices Saves in 1 Year
$25,000,000 What the Postal Service Loses Each Day
16 Days How Long it Currently Takes USPS to lose $500,000,000 – the same amount of savings announced in new USPS plan
$13,000,000,000+ Current Postal Service Debt to U.S. Treasury
143 Days Until USPS has to pay $11.1 billion for future retiree healthcare costs (as of 5/10)
15 Days Since the Senate Passed Comprehensive Postal Reform Legislation (as of 5/10)
211 Days Since the House Reported Its Postal Reform Bill Out of Committee (as of 5/10)
??? Days Until the House Takes Action on Postal Reform Legislation