Washington, D.C.—A bill has been introduced in the U.S. Senate that would address several issues affecting the financially struggling U.S. Postal Service and help ensure its future solvency.
Sen. Tom Carper, D-Del, has floated a new bill
—the Postal Operations Sustainment and Transformation Act of 2011—that would offer relief from the Postal Service's current obligations to prefund future pension obligations, and cut Saturday home mail delivery. It is estimated that the bill would provide overall savings, or access to new funds, of about $8 billion annually.
The Postal Service continues to hemorrhage money,
due largely to changing consumer and business communications that rely on electronic communications instead of physical mail.