Subject: Neither rain nor snow - but no cash
https://federalnewsnetwork.com...

The Postal Service is less than a year away from running out of cash and is calling on Congress to increase its limit to borrow money from the Treasury Department.

Postmaster General David Steiner told members of the House Oversight and Government Reform Committee on Tuesday that USPS is set to run out of cash in less than 12 months and that lawmakers need to act soon to keep the agency running.

“Less than a year from now, the Postal Service will be unable to deliver the mail if we maintain the status quo,” Steiner told the government operations subcommittee.

Congress passed long-awaited reform legislation in April 2022 that saved USPS $107 billion in total costs. USPS warned lawmakers that it was also on the verge of running out of cash at the height of the COVID-19 pandemic, and received $10 billion in pandemic relief funds.

Several House Republicans who played a critical role in passing the Postal Service Reform Act said they were skeptical of providing further assistance to USPS.

Jeff