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. 
