Group Of US Senators Backs $46 Billion In Relief For Postal Service

A bipartisan group of 20 U.S. senators introduced legislation on Wednesday to provide the cash-strapped U.S. Postal Service (USPS) with $46 billion in financial relief over 10 years.

The U.S. House of Representatives Oversight and Reform Committee voted unanimously to approve companion legislation last week.

The legislation would eliminate a requirement that USPS pre-fund retiree health benefits for 75 years and would require postal employees to enroll in the Medicare government-retiree health plan. Instead, USPS would pay a small, yearly “top-up” payment to address actual annual retiree costs.

Read the full article here.