Aug 09 2016
Senator Carper Statement on U.S. Postal Service Financial Losses
WASHINGTON – Today, U.S. Senator Tom Carper (D-Del.), top Democrat on the Senate Homeland Security and Governmental Affairs Committee, released the following statement in response to the announcement that the U.S. Postal Service (USPS) reported a net loss of $1.6 billion in the third quarter of fiscal year 2016. This report comes after the Postal Service faced the first rate decrease in nearly a century with the expiration of the court-mandated emergency surcharge put in place after the Great Recession – the only measure keeping the Postal Service from financial collapse over the last two years.
“Despite rises in revenue and shipping volume, the Postal Service is, yet again, reporting significant losses. The agency’s latest financial report forecasts a reality we’ve known for years – without Congressional action, the Postal Service will remain unable to raise enough revenue to cover its costs and will continue to suffer losses that threaten its long-term viability. Each quarter, these reports underscore the Postal Service’s dire situation and remind us that doing nothing cannot be an option.
“When Congress returns from recess in September, we will have a ripe opportunity to approve legislation that can stabilize the $1.4 trillion mailing industry that employs more than seven million Americans. I am encouraged by the House Oversight and Government Reform Committee’s passage of postal reform legislation and remain hopeful that my colleagues in the Senate will join me in working with Chairman Chaffetz and Congressman Cummings to ensure this critical institution is competitive and solvent for years to come.”
Senator Carper introduced the Improving Postal Operations, Service, and Transparency Act of 2015, last September. iPOST reflects the views of a broad range of stakeholders and offers a compromise solution to the difficult issues that Congress and the Postal Service have struggled with for years. The bill includes a comprehensive package of reforms that would place the Postal Service on firm financial footing, stabilize and improve service performance, allow for the development of new products and services, and enhance transparency, and is cosponsored by Senators Jerry Moran (R-Kan.), Claire McCaskill (D-Mo.), Roy Blunt (R-Mo.) and Susan Collins (R-Maine).