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<\/p>\n","protected":false},"excerpt":{"rendered":"NALC News – 8\/9\/19 – The Postal Service\u2019s\u00a0third quarter\u00a0financial report shows the need for policymakers to address two public policy issues beyond USPS control\u2014the stamp price rollback and the congressional mandate that USPS pre-fund future retiree health benefits decades into the future.<\/p>\n
First, Congress should address the pre-funding burden it imposed in 2006, which requires USPS\u2014alone among all public and private entities in the country\u2014to pre-fund future retiree healthcare benefits at an annual cost of about $5 billion. It\u2019s important to note that this goes on the books as red ink whether or not it\u2019s actually paid in a given year.<\/p>\n
Second, in April 2016, the price of a stamp was rolled back by two cents, reducing postal revenue by $2 billion a year. That was the first rollback since 1919 and it makes little financial sense because USPS already has the industrial world\u2019s lowest rates.<\/p>\n
Without the prefunding burden and the price roll-back, the Postal Service would likely have reported an operating profit through the first nine months of the fiscal year.<\/p>\n
\u00a0Fortunately, the Postal Regulatory Commission is in the midst of a legally mandated review of the postage rate-setting system. At present, USPS is constricted in its ability to adjust rates by no more than the Consumer Price Index, but the CPI is an economy-wide measurement of consumer goods and services that doesn\u2019t fit a transportation and delivery provider. The PRC has the ability to correct this mismatch and relieve the resulting financial pressure.<\/p>\n
Fixing\u00a0the external financial burdens\u00a0posed by\u00a0the price rollback and pre-funding,\u00a0which we hope the PRC and Congress will do soon,\u00a0will put postal finances on a stable footing and allow\u00a0USPS–which is based in the Constitution;\u00a0funds itself through earned revenue, not taxpayer money;\u00a0and enjoys broad public and political support–to continue providing Americans and their businesses with the industrial world\u2019s most-affordable delivery network.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
NALC News – 8\/9\/19 – The Postal Service\u2019s\u00a0third quarter\u00a0financial report shows the need for policymakers to address two public policy issues beyond USPS control\u2014the stamp price rollback and the congressional mandate that USPS pre-fund future retiree health benefits decades into the future. First, Congress should address the pre-funding burden it imposed in 2006, which requires […]<\/p>\n","protected":false},"author":1,"featured_media":10984,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,20],"tags":[],"class_list":["post-26980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-nalc-news","last_archivepost"],"_links":{"self":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/26980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/comments?post=26980"}],"version-history":[{"count":1,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/26980\/revisions"}],"predecessor-version":[{"id":26981,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/26980\/revisions\/26981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media\/10984"}],"wp:attachment":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media?parent=26980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/categories?post=26980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/tags?post=26980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}