US postal service will run out of money by February 2027, says agency chief

Source: US news | The Guardian · Bias: Center Left

Summary

Postmaster general David Steiner has called for change to federal law that caps USPS’s borrowing at $15bnThe US Postal Service will run out of funds within a year, unless lawmakers lift a cap on how much money the agency can borrow, according to the postmaster general.In an interview with the Associated Press, David Steiner warned that the postal service – which relies on stamps and service fees rather than tax dollars to deliver mail six days a week to every address in the country – would run out of cash for employees and vendors by February 2027. Continue reading...

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US postal service will run out of money by February 2027, says agency chief
US news | The Guardian

US postal service will run out of money by February 2027, says agency chief

Center Left

Postmaster general David Steiner has called for change to federal law that caps USPS’s borrowing at $15bnThe US Postal Service will run out of funds within a year, unless lawmakers lift a cap on how much money the agency can borrow, according to the postmaster general.In an interview with the Associated Press, David Steiner warned that the postal service – which relies on stamps and service fees rather than tax dollars to deliver mail six days a week to every address in the country – would run out of cash for employees and vendors by February 2027. Continue reading...