USPS proposes 1st-Class stamp price hike
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The USPS is nearing a financial breaking point, postmaster general warns: 'We were thrown an anchor'
"I like to say that we got thrown overboard and into the water. But, instead of tossing us a life jacket, we were thrown an anchor," the postmaster said.
The U.S. Postmaster General said central and southern Illinois is particularly problematic. U.S. Rep. Nikki Budzinski, D-Springfield expressed continued concern to Postmaster General David Steiner during a committee hearing on March 17.
Several House Republicans who played a critical role in passing reform legislation in 2022 said they were skeptical of providing further assistance to USPS.
Leaders at the United States Postal Service (USPS) are raising alarms as the agency prepares to run out of money by 2027 if they don’t receive help soon. Now, Postmaster General David Steiner is pleading to Congress to step in and save the agency before millions of Americans are negatively impacted.
The U.S. Postal Service will run out of cash within a year unless Congress lifts a decades-old cap and allows the agency to borrow more money, the new postmaster general warned in
The U.S. Postal Service's leader says it is set to run out of money in less than a year and may have to stop deliveries because of declining mail volume and what USPS sees as burdensome requirements.
USPS, which delivers to more than 170 million U.S. addresses, has a borrowing cap of $15 billion and has already hit that limit.