Statement on U.S. Postal Service Finances
May 10, 2012
WASHINGTON, May 10 - Sen. Bernie Sanders (I-Vt.) issued the following statement today after the U.S. Postal Service reported quarterly losses:
"Understated in the Postal Service's financial report of today is one simple fact: Ninety-four percent of the Postal Service's losses this year are a direct result of an onerous payment, unprecedented in either government agencies or private corporations, to pre-fund 75 years of future retiree health benefits in a 10-year period.
"The bipartisan postal reform bill passed by the Senate largely corrects this inequity and includes other common-sense reforms to ensure that the Postal Service has the money it needs without drastically cutting services, and the flexibility it requires in the future to generate additional new revenue.
"It is time for the House to pass this important bill to make sure that the Postal Service succeeds in the 21st century."