Amendment seeks to save US Postal Service $10 bln

Discussion in 'The Latest USPS, Amazon, and DHL Headlines' started by cheryl, Sep 19, 2011.

  1. cheryl

    cheryl I started this. Staff Member

    Amendment seeks to save US Postal Service $10 bln - Reuters

    The Postal Service relies on revenue from stamps, packages and other services, not tax dollars, to fund its operations. The agency lost more than $3 billion last quarter.

    Issa's bill would end Saturday mail and set up groups to close facilities and cut costs if the agency misses payments to the federal government. He has refused to consider fixes many lawmakers support, such as returning the retirement fund surplus or restructuring a payment to pre-fund retiree health benefits.

    "I'm not going to go along with a fictitious story about taxpayers owing the Postal Service money when the facts show that's simply not the reality," Issa said.