Financial Respite For USPS?
While postal officials await Senate action, the House of Representatives passed the Conference Agreement on the FY 2010 Legislative Branch Appropriations Act (HR 2918), which includes a provision requiring the Postal Service to make a $1.4 billion payment (deferring $4 billion) to pre-fund postal retiree health premiums. The vote was 217-190.
The USPS has not received an operational subsidy from Congress since 1982, and current estimates forecast the federal agency will lose a record $6.4 billion in fiscal 2009. That would be on top of losses of $2.8 billion in fiscal 2008 and $5.1 billion in fiscal 2007. The Postal Service last turned a profit of $900 million in fiscal 2006.
