December 4, 2018
The Treasury Department issued a report Tuesday calling the U.S. Postal Service “unsustainable” financially and calling for extensive changes to its operations.
The recommendations include eliminating certain delivery services, allowing the Postal Service to set prices without Congress’ consent, and eliminating collective bargaining over wages for USPS employees. The report suggests privatizing the USPS as a possible solution.
“The USPS is on an unsustainable financial path, which poses significant financial risk to American taxpayers,” said Treasury Secretary Steven Mnuchin.
The Treasury report states that over the last decade the USPS had net losses totaling $69 billion and is forecast to lose tens of billions of dollars more in the next decade. It blames the shortfalls on the service’s business model, which it said “must be updated in light of its current operating realities.”
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