Senators voted 79-19 to approve the Postal Service Reform Act that provides the agency greater financial flexibility removing $57 billion in past-due postal liabilities as well as $50 billion in payments throughout the next 10 years.
“By passing this historic legislation, the Senate has shown the American people that we can come together, build consensus and pass meaningful reforms that will improve lives,” Sen. Gary Peters, D-Mich., said. “This bill, which has been 15 years in the making, will finally help the Postal Service overcome burdensome requirements that threaten their ability to provide reliable service to the American people.”
The bill, which passed in the House by a 342-92 vote last month, requires future postal service retirees to enroll in Medicare and drops a requirement set by a 2006 bill ordering the agency to annually pre-fund their healthcare costs. Declines in mail revenue have forced the agency to default on those payments since 2011.
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