Sessions Opens Hearing on the Financial Future of the U.S. Postal Service

WASHINGTON––Subcommittee on Government Operations Chairman Pete Sessions (R-Texas) delivered his opening statement at today’s hearing on “Oversight of the U.S. Postal Service: The Financial Future Under Postmaster General Steiner.” In his remarks, Subcommittee Chairman Sessions highlighted that the U.S. Postal Service (USPS) loses billions of dollars each year and is expected to run out of money in 12 months, after the efforts of former Postmaster General Louis DeJoy’s efforts to revive the agency did not reach expectations. He also emphasized that Congress must see real progress from USPS in order to consider the agency’s request for an increase in borrowing authority from the Department of the Treasury and confidence that USPS will pay it back.

Below are Subcommittee Chairman Sessions’s remarks as prepared for delivery:

Welcome to today’s hearing regarding the Postal Service’s financial future. 

The Postal Service is charged with delivering mail to every address in the nation six days a week. 

That mandate is one that brings with it large costs that no private company is required to deal with.

Each year, the Postal Service loses billions, and in 12 months they will run out of cash, the time for major change is now.

The last Postmaster General, Louis DeJoy, launched his Delivering for America plan, which was designed to revive the Postal Service. 

Unfortunately, the results did not reach expectations. 

Mr. Steiner has now taken that role and is focused on taking full advantage of the last mile capability to grow revenue.

Raising revenue, cutting costs, and utilizing the capabilities of private industry will be the path forward.

Understanding which aspects of the Delivering for America plan will remain and which have been stopped is key to that path forward.

Without proper transparency, Congress will be unable to see whether action is necessary.

And with the Postal Service’s requests for an increase in borrowing authority from the Treasury, Congress needs to have confidence that they will be able to pay it back.

For Congress to consider this request, the Postal Service must also prove they have exhausted all options already.

With many actions available to the Postal Service, I look forward to finding a path towards self-sufficiency today.