Senator Carper releases statement on USPS financial losses
US Senator Tom Carper has released the following statement in response to the announcement that the US Postal Service reported a net loss of $1.6 billion in the third quarter of fiscal year 2016.
Senator Carper’s statement is as follows:
“Despite rises in revenue and shipping volume, the Postal Service is, yet again, reporting significant losses. The agency’s latest financial report forecasts a reality we’ve known for years – without Congressional action, the Postal Service will remain unable to raise enough revenue to cover its costs and will continue to suffer losses that threaten its long-term viability. Each quarter, these reports underscore the Postal Service’s dire situation and remind us that doing nothing cannot be an option.
“When Congress returns from recess in September, we will have a ripe opportunity to approve legislation that can stabilize the $1.4 trillion mailing industry that employs more than seven million Americans. I am encouraged by the House Oversight and Government Reform Committee’s passage of postal reform legislation and remain hopeful that my colleagues in the Senate will join me in working with Chairman Chaffetz and Congressman Cummings to ensure this critical institution is competitive and solvent for years to come.”