On April 6, 2022 as President Biden signed the Postal Service Reform Act (PRSA), there was abounding yet misplaced optimism that the U.S. Postal Service (USPS) had turned the corner financially and would have a bright future.
Congress provided USPS with $107 billion in assistance from PSRA, on top of $10 billion from the December 2020 COVID package. Also, in April 2022, USPS’s 10-year strategic plan said it would break even in fiscal year 2023 if PSRA were enacted and if it received a far smaller amount of assistance stemming from a pension dispute with the Office of Personnel Management.
Instead, USPS has lost more than $7 billion for fiscal year 2023. Lexington Institute’s Paul Steidler discusses these issues in an Op-Ed in FEDweek here.
Find Archived Articles: