Senate approves sweeping changes to the US Postal Service

The House probably won't take up the measure this session, but the senate is now on record as far as making sweeping changes to the way the Postal Service is run, including the possible elimination of Saturday delivery in 2 years, and early retirement for hundreds of thousands of workers. Washington Post: Congress moved one step closer Wednesday to overhauling the cash-strapped U.S. Postal Service by approving sweeping reforms to rebalance the mail agency's finances and help cut the size of its delivery network. The bipartisan measure passed 62 to 37 and would give the Postal Service nearly $11 billion to offer buyouts and early retirement incentives to hundreds of thousands of postal workers and to pay off its debts. Revised estimates on how much USPS owes to federal worker pension accounts have determined that the agency has overpaid its obligations to the fund over several years. The measure also would permit the end of Saturday mail deliveries in two years, only after USPS...(Read Full Post)