Unless Congress Addresses Mandates, Postal Service Faces Financial Shortfalls

The postmaster general told a Senate subcommittee that despite significant cost cutting and revenue generation, the Postal Service finds itself in dire financial straits. Statutorily mandated payments due to the government at the end of September won't be paid, he said, unless Congress acts to refund overpayments of pension funding or ease the mandate to prefund retiree health benefits.