|WASHINGTON- Rep. Darrell Issa, R-Calif., issued the following statement today as the United States Postal Service announced its third quarter losses for the current fiscal year. First-Class Mail volume was down over 6 percent compared to the same quarter last year.
“The Postal Service’s announcement of yet another multi-billion dollar loss underscores the need to enact meaningful reforms in order to avoid a taxpayer-funded bailout. These deficits clearly cannot be closed by bailing out the Postal Service with taxpayer money or allowing the postal service to amass obligations to employees, retirees, and taxpayers that are unlikely to be fully met in the future.
“The increasing use of electronic, paper-free technology has caused a permanent decline in mail usage and the Postal Service must adapt its outdated brick-and-mortar model to meet current customer needs. Only serious cost-cutting structural reforms that reduce workforce costs and rightsize infrastructure can save the Postal Service and prevent a multi-billion taxpayer funded bailout.”
H.R. 2309, the Postal Reform Act of 2011, introduced by Chairman Issa and Rep. Dennis Ross, R-Fla., is the only legislation introduced this Congress that will return the Postal Service to solvency and avoid a multi-billion taxpayer funded bailout. Click here for more information about the Postal Reform Act. Copies of the third quarter financial results will be available later today on the Postal Service website: http://about.usps.com/who-we-are/financials/welcome.htm.