Washington D.C. -Today, Rep. Carolyn B. Maloney, the Chairwoman of the Committee on Oversight and Reform, held a hybrid full committee hearing to review legislative proposals to place the Postal Service on a more sustainable financial footing.
“The Postal Service is one of our nation’s most vital and respected institutions. It provides service across the country to every single address, and it adds over a million new delivery points every year," said Chairwoman Maloney. “Unfortunately, the Postal Service is facing a dire financial situation that requires us to act. We need to pass meaningful reforms-and hopefully bipartisan reforms-to put the Postal Service on more sustainable financial footing for years to come."
The Committee heard testimony from: The Honorable Ron Bloom, Chairman of the United States Postal Service Board of Governors; Mr. Louis DeJoy, Postmaster General of the United States Postal Service; Ms. Tammy Whitcomb, United States Postal Service Inspector General; Mr. Mark Dimondstein, President of the American Postal Workers Union, AFL-CIO; Mr. Joel Quadracci, the Chairman, President, and Chief Executive Officer of Quad/Graphics; and Mr. Kevin Kosar, Resident Scholar of the American Enterprise Institute.
During the hearing, the Committee discussed the Postal Service’s financial condition, which has been deteriorating over the past decade due to a number of factors including a decline in first-class mail and the requirement to pre-fund retiree health benefits.
These financial losses have made the Postal Service’s position untenable. The witnesses and Members agreed that there was an immediate need for action to address this situation and ensure that the Postal Service functions for years to come.
The Committee’s draft legislation will address the bipartisan call for action as it includes several provisions to relieve the Postal Service’s financial burdens such as: repealing a requirement for the Postal Service to pre-fund retiree health care, service performance standards, and Medicare integration.
There was unanimous agreement among witnesses that eliminating the prefunding mandate combined with Medicare integration for all Postal Service employees would go a long way towards putting the Postal Service on strong financial footing. This strong foundation will allow this bipartisan legislation to pass quickly and ensure a strong Postal Service for the future.
