WASHINGTON (AP) — A Senate bill aimed at saving the U.S. Postal Service would make it harder to close thousands of low-revenue post offices and end Saturday mail delivery — steps the struggling agency says are needed to reduce billions in debt and become profitable again.
The measure takes steps to help the mail agency avert bankruptcy as early as this fall, giving it a cash infusion of $11 billion to pay off debt and reduce costs by offering retirementincentives to 100,000 employees. But the bill sidesteps most controversial decisions on postal closings, buying time for lawmakers who would rather avoid the wrath of constituencies in an election year.
The Senate was scheduled to vote as early as Wednesday on a final bill, after first considering amendments that in part could restrict the Postal Service from further cuts to first-class mail delivery. On Tuesday, senators agreed to tack on amendments that would bar the shuttering of rural post offices for a year, give afflicted communities new avenues of appeal and prevent any closings before the November elections.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.