To examine the need for timely and comprehensive postal reform legislation.
To discuss provisions that stakeholders believe are necessary in a comprehensive reform bill.
USPS reported a net loss of $5.3 billion for FY2016, representing the tenth consecutive year of net losses.
USPS has more than $120 billion in unfunded liabilities, including a $21.3 billion pension funding shortfall.
USPS has been unable to make statutorily required payments to unfunded liabilities and is poised to run increasingly large operational deficits in the coming years, having already exhausted its $15 billion in statutory borrowing authority.
Chairman Chaffetz (R-UT): “One of the choices that is before us is to do nothing, right? Just let her go, just keep on the same trajectory. . . from your perspective, do nothing, what happens?”
Representative Darrell Issa (R-CA):“Ladies and gentlemen, it’s the third quarter and you’re down by 25 points, and if Tom Brady doesn’t come in, you’re bankrupt. You’re beyond bankrupt, you’re in record deficit”
Government Operations Subcommittee Chairman Meadows (R-NC):“I’m willing to invest political capital [and] we have a number of stakeholders who are here as we are looking to truly save the Postal Service as we know it.”