Possible changes to the U.S. Postal Service are gaining significant momentum as Congress continues its legislative deliberations this summer. The proposal vehicle in question, known as the Postal Service Reform Act (PSRA), received positive reviews in the House of Representatives, and a Senate version was also recently released.
Despite accumulating 63 pages of legislative text, the bill emphasizes fiscal sleight of hand to achieve short-term stabilization, while leaving a massive amount of the Postal Service’s future in doubt.
The hallmark of the package is a $46 billion bailout of healthcare benefit provisions. These unfunded liabilities have added up since the USPS began defaulting on payments for retiree benefits in 2012.
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