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Over the past several years, there have been numerous measures introduced in the House and Senate to address the Postal Service’s financial condition and to facilitate a viable future for one of America’s most useful and popular institutions. Many of these bills had important components to return the Postal Service to operating as a financially sound company, while many others completely miss the mark, favoring efforts to dismantle the Postal Service rather to save it. However, S. 316 and H.R. 630, both titled “The Postal Service Protection Act,” are the only pieces of legislation that include all the key provisions necessary to return the Postal Service to financial health in both the short and long terms, while preserving its vital networks, high-quality service standards and solid middle-class jobs.
Eliminating the future retiree health benefit pre-funding requirement.
The most immediate problem facing the Postal Service is the requirement to pre-fund future retiree health benefits. The Postal Service is the only organization, public or private, that is required by law to prefund such benefits. This unfair burden costs USPS between $5.4 billion and $5.8 billion every year. Without the pre-funding requirement, the Postal Service would have had an operational profit between 2007 and 2010. If passed, S. 316 and H.R. 630 would eliminate the USPS’s unique and unfairly burdensome pre-funding requirement. Continue reading “Support S. 316 and H.R. 630: The Postal Service Protection Act”