USPS Makes A Case For Debt Relief

The Postal Service says Congress needs to make changes to laws that are hindering its efforts to return to profitability and pay down its debt.
 
Postmaster General Patrick Donahoe and two members of the USPS Board of Governors told a hearing of the House Oversight and Government Reform Committee that a 2006 postal reform law requiring the agency to make accelerated prepayments for retiree health benefits was the primary reason the service was deeply in the red and likely to hit its $15 billion debt ceiling later this year.
 
Donahoe asked for help during hearing scrutinizing a contract approved in recently-completed negotiations between USPS and its largest collective bargaining unit, the American Postal Workers Union (APWU).

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