WASHINGTON (Reuters) – The Postal Service said its loss widened to $3.2 billion in the first three months of 2012 and repeated on Thursday its warning that it will likely default on payments to the federal government unless Congress passes legislation offering some relief.
The agency, which does not receive taxpayer funds and has been losing billions each year as Americans communicate online, said it lost $2.2 billion in the same period in 2011.
WASHINGTON (Reuters) – The U.S. Postal Service said on Wednesday that it is abandoning for now its plan to close thousands of post offices in rural locations and instead will shorten their hours of operation.
The change represents a victory for U.S. lawmakers and rural communities who created a backlash against the cash-strapped agency last summer when it began considering more than 3,600 post offices for closure this year.
WASHINGTON (Reuters) – A bipartisan group of lawmakers is trying to drum up support in the House of Representatives to vote on a Senate-passed bill that would make it tougher for the Postal Service to close some facilities, in part by targeting representatives who may lose postal facilities and jobs in their districts.
The group hopes representatives who are concerned about the planned closures of post offices or mail processing sites under the Postal Service’s own cost-cutting plan will join them in pressing House leadership to hold a vote on the Senate bill.
(Reuters) – The Senate advanced legislation on Wednesday that would allow the U.S. Postal Service to end Saturday mail after two years as part of efforts to overhaul the mail agency and prevent it from shuttering thousands of facilities next month.
The Postal Service has been losing billions of dollars each year due to the rise of online communications and high labor and other costs. Both houses of Congress have been working for months on legislation to restructure the agency and offer some relief.
April 18 (Reuters) – A U.S. congressional panel approved
about $33 billion in cuts over 10 years from food assistance
programs in a partisan vote t h at signaled Republican members’
preference to trim social programs instead of farm programs or
defense spending this year.
The cuts advanced by the House of Representatives
Agriculture Committee on Wednesday are expected to die in the
WASHINGTON, April 17 (Reuters) – The U.S. Senate voted on
Tuesday to begin debating legislation that would allow the
cash-strapped U.S. Postal Service to end Saturday mail delivery
after two years.
The bill from Republicans Susan Collins and Scott Brown,
Democrat Thomas Carper and Independent Joe Lieberman would also
allow the mail agency to use surplus funds in a federal
retirement account to offer retirement incentives and to explore
developing its own health care plan.
April 12 (Reuters) – The U.S. Postal Service has more
mail-processing facilities, staff and equipment than it needs as
mail volumes drop, a government watchdog said in a report
calling on Congress to pass legislation that helps the agency
address its dire financial situation.
“It is now abundantly clear that the postal business model
must be fixed given the dramatic and estimated decline in
volume, particularly for First-Class Mail,” the Government
Accountability Office said in the report published on Thursday.
WASHINGTON, March 27 (Reuters) – The head of the U.S. Postal
Service (USPS) said on Tuesday that the agency could save about
$7 billion a year by moving its employees from federal health
plans to a separate benefits program, a proposal that drew
skepticism from lawmakers.
The Postal Service, which does not receive taxpayer funds
and lost more than $5 billion last year, has been scrambling to
cut costs. The agency began floating the idea of taking over its
retirement and health programs last August.
March 23 (Reuters) – Legislation to allow the
struggling U.S. Postal Service to eventually end Saturday mail
delivery is expected to be debated in the U.S. Senate next week.
Senate Majority Leader Harry Reid is planning a procedural
vote as early as Monday evening to begin debating a bipartisan
bill that would allow the mail agency to shrink to five-day
delivery after two years, according to congressional aides and a
WASHINGTON, March 1 (Reuters) – Iran has made a rare
purchase of U.S. wheat as it tries to build its food stockpiles
amid tougher sanctions imposed by the United States and Europe
over its nuclear program, the U.S. government said on Thursday.
The U.S. Agriculture Department reported that Iran bought
120,000 tonnes of U.S. wheat — enough to fill two large cargo