A Glimmer Of Hope For Common-Sense, Bipartisan PolicymakingFebruary 17, 2022
Much has been said about Congress’s failure to pass voting rights reform and the bulk of President Biden’s agenda in the Build Back Better Act. But at least one piece of common-sense, bipartisan policymaking is moving forward: the Postal Service Reform Act, which passed the House 342 to 92 last week.
The U.S. Postal Service has struggled with its balance sheet for years, with losses of $160 billion predicted over the next decade. It currently has more than $200 billion in liabilities, nearly three-quarters of which stem from a requirement for it to pre-fund retirees’ health-care costs. This mandate was established in 2006 when the agency was profitable, but falling revenue — largely due to competition from modern technology and declining first-class mail use — has meant the Postal Service has been unable to keep up with payments.
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