Sen. Carper renews call for reform after USPS posts another huge loss
Delaware's senior Senator Tom Carper is calling on Congress to pass a number of reforms as the U.S. Postal Service continues to lose money.
The Postal Service posted $2 billion in losses Monday for the third quarter of fiscal year 2014.
Saying the Service is 'locked in a downward financial spiral,' Carper urged the Senate to take up the Postal Reform Act of 2014. Carper chairs the Senate's Homeland Security and Governmental Affairs Committee, which already OK'ed the bill in a bipartisan 9-1 vote.
If passed, the legislation would make a number of cost-saving changes to the Postal Service, including the creation a postal-only health system that could save about $800 million per year.
'Our legislation is a bipartisan and balanced solution to the Postal Service's financial crisis that would prevent collapse, preserve key postal operations and service standards, protect millions of mailing industry jobs, and enable this critical institution to serve the American public for years to come,' said Carper in a statement.
The U.S. Postal Service has operated in negative financial territory for more than five years.
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