WASHINGTON.D.C. – The House Committee on Oversight and Government Reform today released “Postal Crisis 101: The Postal Bailout,” a new video explaining one of the dire consequences if Congress fails to confront the fiscal crisis facing the United States Postal Service. Since its peak in 2006, mail volume has declined by 46 billion pieces. The Postal Service has projected a $10 billion loss in Fiscal Year 2011.
The Issa-McCain-Ross Postal Reform Act of 2011 is the only plan that will remove road blocks that have prevented the Postal Service from reducing expenses in line with declining revenue, and implement cost-cutting structural reforms, ensuring the Postal Service meets its obligations without exposing taxpayers to a multi-billion taxpayer funded bailout.
Other solutions put forward seek to avoid real reform by giving the Postal Service a cash infusion masked by an accounting gimmick that creates a fictitious overpayment. Ultimately, those solutions fail to confront the outdated business model, which is at the root of the Postal Service’s problems.
The Postal Reform Act will be considered Thursday at 10:30 a.m. at a business meeting of the Oversight Committee. You can watch a live webcast and read more about the Postal Reform Act at http://SavingThePostalService.com.