US EditionUSPS Seeks Congress Approval for Stamp Hike and Borrowing Limit Increase
Postmaster General Steiner urges Congress to raise USPS borrowing cap and allow higher postage to prevent cash exhaustion within a year amid a $109 billion loss since 2007.
- On Tuesday, Postmaster General David Steiner will testify before a House Oversight subcommittee, warning that the United States Postal Service faces cash exhaustion within a year without congressional action to raise the $15 billion borrowing cap.
- Since 2007, the agency has reported $118 billion in net losses, driven by mail volume collapsing from 213 billion pieces in 2006 to 109 billion in 2025, eroding revenue from first-class mail.
- Steiner outlined cost-cutting options including ending six-day-a-week deliveries, closing select post offices, and raising first-class stamp prices to over $1.00 from the current $0.78.
- The Government Accountability Office warned lawmakers that the Postal Service's business model is unsustainable, facing billions in new retiree health care expenses by 2031, while Subcommittee Chairman Rep. Pete Sessions questioned agency reliability.
- President Trump is actively seeking to appoint new board members to the Postal Service as lawmakers evaluate whether the 2022 Postal Service Reform Act addressed long-term structural pressures.
93 Articles
93 Articles
Cutting delivery days ‘on the table,’ as Postal Service runs out of cash, lawmakers told
The Postal Service is less than a year away from running out of cash and is calling on Congress to increase its limit to borrow money from the Treasury Department. Postmaster General David Steiner told members of the House Oversight and Government Reform Committee on Tuesday that USPS is set to run out of cash in less than 12 months and that lawmakers need to act soon to keep the agency running. “Less than a year from now, the Postal Service wil…
USPS director will call for reforms that include changes to the pension system, health benefits for retirees, and greater financial flexibility
The USPS is nearing a financial breaking point, postmaster general warns: 'We were thrown an anchor'
USPS is running out of cash, the Postmaster General warned during congressional testimony.Jakub Porzycki/NurPhoto via Getty ImagesThe USPS could run out of cash within a year, David Steiner warned.Steiner said the agency may need to raise its borrowing limit or increase prices to stay afloat.USPS risks losing a significant share of its Amazon shipping business.The head of the US Postal Service is warning lawmakers that the agency would run out o…
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