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USPS Reports $2.5 Billion Loss, Calls for Congressional Action to Avoid Service Cuts

USPS Reports $2.5 Billion Loss, Calls for Congressional Action to Avoid Service Cuts

The United States Postal Service (USPS) has announced a $2.5 billion net loss for the fiscal third quarter, despite a 6.1% increase in operating revenue to $19.9 billion. Postmaster General David Steiner has highlighted the need for Congressional intervention to address the agency's financial challenges, warning that without action, the USPS may have to close thousands of unprofitable post offices and raise prices. The USPS's financial struggles are exacerbated by legislation that could add new ZIP codes, costing an estimated $800 million. The agency has been relying on temporary measures, such as deferring retirement fund contributions, to manage its liquidity crisis.

U.S. Postal Service Calls for Legislative Reforms Amid Financial Struggles

U.S. Postal Service Calls for Legislative Reforms Amid Financial Struggles

The U.S. Postal Service (USPS) is urging Congress to implement legislative and regulatory reforms to address its ongoing financial challenges. Postmaster General David Steiner emphasized the need for reforms to manage pension and retirement funds, eliminate unfunded mandates, and allow the agency to operate more like a private enterprise. The USPS reported a $2.5 billion net loss for the fiscal third quarter, despite a slight improvement in financial results compared to the previous year. The agency has been borrowing from its employees' retirement funds to stay operational and has reported net losses of over $120 billion since 2007 due to declining first-class mail volumes and the need for costly nationwide delivery operations.

USPS Faces Financial Crisis with $2.5 Billion Quarterly Loss, Seeks Congressional Support

USPS Faces Financial Crisis with $2.5 Billion Quarterly Loss, Seeks Congressional Support

The United States Postal Service (USPS) has reported a $2.5 billion net loss for the fiscal third quarter, marking a $562 million improvement from the previous year. Despite this progress, the USPS continues to face significant financial challenges, driven by declining first-class mail volumes and a Congressionally mandated business model. Postmaster General David Steiner has called for legislative and administrative reforms to address these issues, warning that without Congressional action, the USPS may need to close thousands of unprofitable post offices and raise prices. The agency has also requested an increase in the statutory debt limit and modifications to pension funding rules to alleviate its financial burden.

U.S. Postal Service Implements Parcel Surcharge, Boosts Revenue to $20 Billion

U.S. Postal Service Implements Parcel Surcharge, Boosts Revenue to $20 Billion

The U.S. Postal Service (USPS) has reported a significant increase in revenue, reaching nearly $20 billion for the fiscal third quarter. This growth is attributed to a parcel surcharge introduced in April to offset rising fuel and transportation costs, alongside higher stamp prices. Postmaster General David Steiner highlighted that the surcharge, set to expire on January 17, contributed to a 6.1% increase in operating revenue compared to the same period last year. Despite these gains, USPS continues to face challenges, including declining mail and package volumes. The organization reduced its net loss by 18.2% year-over-year, but still reported a controllable loss of $1.04 billion. Steiner emphasized the need for legislative and regulatory reforms to allow USPS to operate more like a private enterprise, citing the mandate for universal mail coverage as a significant structural challenge.

USPS Faces Financial Strain as Retirement Liabilities and Health Fund Decline

USPS Faces Financial Strain as Retirement Liabilities and Health Fund Decline

The United States Postal Service (USPS) is under increasing financial pressure due to its long-term retirement obligations. A recent inspector general report highlights that the agency has accumulated $103.6 billion in unfunded liabilities related to the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS). Additionally, the USPS is projected to deplete its retiree health fund by 2032. The report also notes that USPS ceased making employer contributions to FERS in April 2026, a move that reduces immediate costs but shifts financial risk to the federal retirement system. This decision has raised concerns among employees about the stability of their future benefits. Lawmakers are now tasked with deciding whether USPS should repay the missed contributions or if the federal system will absorb the shortfall.

US Postal Service reports $2.5 billion quarterly loss

US Postal Service reports $2.5 billion quarterly loss

By David Shepardson WASHINGTON, Aug 7 (Reuters) - The U.S. Postal Service reported a $2.5 billion net loss for the fiscal third quarter, nearly $600 million less of a loss than the same quarter last year, and urged a series of actions from Congress to address its mounting financial crisis. U.S.

House Appropriations Committee Chairman Tom Cole Proposes Bipartisan Commission to Address Social Security Shortfall

House Appropriations Committee Chairman Tom Cole Proposes Bipartisan Commission to Address Social Security Shortfall

House Appropriations Committee Chairman Tom Cole, R-Okla., has introduced bipartisan legislation to form a commission aimed at addressing the looming Social Security shortfall. The proposal comes as Congress grapples with the potential depletion of the Social Security trust fund by 2032, which could result in a 22% cut in benefits. The Senate Finance Committee recently held a hearing to discuss the issue, with some lawmakers advocating for a bipartisan commission to find solutions. However, AARP Executive Vice President Nancy LeaMond opposed this approach, urging direct action to secure funding for the program that supports over 70 million Americans. The debate highlights a partisan divide, with Democrats generally favoring increased payroll taxes and some Republicans suggesting raising the retirement age.

Trump says Congress wants to regulate AI industry 'out of business'

Trump says Congress wants to regulate AI industry 'out of business'

By Courtney Rozen WASHINGTON, Aug 7 (Reuters) - U.S. President Donald Trump said the U.S. Congress wants to regulate the AI industry "out of business," according to a Punchbowl News interview published on Friday.

Chrissy Houlahan Reports $264.9K Fundraising in Q2 2026, Highlights Legislative Proposals

Chrissy Houlahan Reports $264.9K Fundraising in Q2 2026, Highlights Legislative Proposals

U.S. Representative Chrissy Houlahan has disclosed her fundraising activities for the second quarter of 2026, reporting a total of $264.9K. This places her 384th among all Q2 reports for the year. A significant portion, 44.9%, of these funds came from individual donors. Houlahan's expenditures for the same period amounted to $232.1K, ranking her 450th in spending among her peers. At the end of the filing period, she reported having $4.0M in cash on hand, which is the 87th highest among congressional reports. In addition to her financial disclosures, Houlahan has been active in legislative efforts, proposing several bills including the Multigenerational Caregiving Data Act and the Preventing Future Vintage Plastic Pipeline Tragedies Act. Her net worth is estimated at $2.9M, ranking her 229th in Congress.

Congress Faces Urgent Deadline to Address Social Security Funding Crisis

Congress Faces Urgent Deadline to Address Social Security Funding Crisis

Congress is under pressure to address the looming financial shortfall in Social Security and Medicare, with the Social Security Trust Fund expected to deplete its reserves by the fourth quarter of 2032. This would result in only 78% of scheduled benefits being paid out unless Congress intervenes. The Medicare Hospital Insurance Trust Fund is also projected to face a shortfall by 2033. Lawmakers are divided on solutions, with proposals ranging from tax increases to benefit cuts, but no consensus has been reached.

Warren Urges Congressional Action to Prevent Social Security Insolvency by 2032

Warren Urges Congressional Action to Prevent Social Security Insolvency by 2032

Senator Elizabeth Warren has called on Congress to address the impending insolvency of the Social Security Trust Fund, which could result in a 22% reduction in benefits by 2032. During a Senate Finance Committee hearing, Warren emphasized the need for legislative action to protect and expand Social Security benefits. She advocates for lifting the payroll tax cap to ensure that the wealthiest Americans contribute their fair share. Warren argues that this measure would secure the financial stability of Social Security and prevent benefit cuts that would adversely affect seniors and people with disabilities.

David Schweikert Advocates for Market-Based Immigration Reform

David Schweikert Advocates for Market-Based Immigration Reform

Representative David Schweikert from Arizona has proposed the Securing Migration, Addressing Reform, and Talent Retention Act, which aims to shift the U.S. immigration system towards a market-based approach. This proposal seeks to prioritize employment-based migration over the current system that heavily relies on family ties and diversity lotteries. The act is designed to enhance the economic contributions of immigrants by selecting individuals based on their skills and potential to contribute to the U.S. economy. Schweikert's proposal is part of a broader conservative agenda to reform immigration policies to better align with economic needs.