{ "id": "R41024", "type": "CRS Report", "typeId": "REPORTS", "number": "R41024", "active": false, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 411021, "date": "2012-08-10", "retrieved": "2016-04-06T23:59:41.638773", "title": "The U.S. Postal Service\u2019s Financial Condition: Overview and Issues for Congress", "summary": "This report provides an overview of the U.S. Postal Service\u2019s (USPS\u2019s) financial condition, legislation enacted to alleviate the USPS\u2019s financial challenges, and possible issues for the 112th Congress. \nSince 1971, the USPS has been a self-supporting government agency that covers its operating costs with revenues generated through the sales of postage and related products and services.\nIn recent years, the USPS has experienced significant financial challenges. After running modest profits from FY2004 through FY2006, the USPS lost $25.4 billion between FY2007 and FY2011. Were it not for congressional action, the USPS would have lost an additional $9.5 billion. \nIn the first three quarters of FY2012, the USPS had an $11.5 billion operational loss. The USPS did not have sufficient cash to make a $5.5 billion payment to its Retiree Health Benefits Fund (RHBF) that was due on August 1, 2012. The USPS is unlikely to have sufficient liquidity to make a $5.6 billion RHBF payment due on September 30, 2012.\nA number of ideas have been advanced that would attempt to improve the USPS\u2019s financial condition in the short term so that it might continue as a self-funding government agency. All of these reforms would require Congress to amend current postal law. The ideas include (1) increasing the USPS\u2019s revenues by altering postage rates and increasing its offering of nonpostal rates and services; and (2) reducing the USPS\u2019s expenses by a number of means, such as recalculating the USPS\u2019s retiree health care and pension obligations and payments, closing postal facilities, and reducing mail delivery to less than six days per week.\nThis report will be updated after the USPS releases its quarterly financial results in early November 2012, and in the interim should there be any significant developments.", "type": "CRS Report", "typeId": "REPORTS", "active": false, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41024", "sha1": "d6b8ababe77582f701092c14ad34fd866211d8ea", "filename": "files/20120810_R41024_d6b8ababe77582f701092c14ad34fd866211d8ea.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41024", "sha1": "c5404b4f9b032232aff0b0f0310ecb9d4f48ab8f", "filename": "files/20120810_R41024_c5404b4f9b032232aff0b0f0310ecb9d4f48ab8f.pdf", "images": null } ], "topics": [] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc83934/", "id": "R41024_2012Jan27", "date": "2012-01-27", "retrieved": "2012-04-27T15:49:45", "title": "The U.S. Postal Service's Financial Condition: Overview and Issues for Congress", "summary": "This report provides an overview of the U.S. Postal Service's (USPS's) financial condition, legislation enacted to alleviate the USPS's financial challenges, and possible issues for the 112th Congress. 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It also addresses current legislation that aims to improve the USPS's financial condition--H.R. 22, S. 1507, and H.R. 5746.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100729_R41024_1f1973b5aee9efb86b48f7bdeb84e1d913cac502.pdf" }, { "format": "HTML", "filename": "files/20100729_R41024_1f1973b5aee9efb86b48f7bdeb84e1d913cac502.html" } ], "topics": [ { "source": "LIV", "id": "Postal service", "name": "Postal service" }, { "source": "LIV", "id": "Postal law and legislation", "name": "Postal law and legislation" }, { "source": "LIV", "id": "Postal rates and revenues", "name": "Postal rates and revenues" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491405/", "id": "R41024_2010Jul01", "date": "2010-07-01", "retrieved": "2015-01-27T19:40:46", "title": "The U.S. Postal Service's Financial Condition: Overview and Issues for Congress", "summary": "This report provides an overview of the U.S. Postal Service's (USPS's) financial condition, recent legislation to alleviate the USPS's financial challenges, and possible issues for the 111th Congress. Since 1971, the USPS has been a self-supporting government agency that covers its operating costs with revenues generated through the sales of postage and related products and services.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100701_R41024_8e77b2e6fdc26941abfaeaf228c9173062fd3862.pdf" }, { "format": "HTML", "filename": "files/20100701_R41024_8e77b2e6fdc26941abfaeaf228c9173062fd3862.html" } ], "topics": [ { "source": "LIV", "id": "Postal service", "name": "Postal service" }, { "source": "LIV", "id": "Postal law and legislation", "name": "Postal law and legislation" }, { "source": "LIV", "id": "Postal rates and revenues", "name": "Postal rates and revenues" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc501657/", "id": "R41024_2010May21", "date": "2010-05-21", "retrieved": "2015-03-30T22:03:27", "title": "The U.S. Postal Service's Financial Condition: Overview and Issues for Congress", "summary": "This report provides an overview of the U.S. Postal Service's (USPS's) financial condition, recent legislation to alleviate the USPS's financial challenges, and possible issues for the 111th Congress.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100521_R41024_939ce95cf4b0c81afe60399f11495cd63ae9ed28.pdf" }, { "format": "HTML", "filename": "files/20100521_R41024_939ce95cf4b0c81afe60399f11495cd63ae9ed28.html" } ], "topics": [ { "source": "LIV", "id": "Postal service", "name": "Postal service" }, { "source": "LIV", "id": "Postal law and legislation", "name": "Postal law and legislation" }, { "source": "LIV", "id": "Postal rates and revenues", "name": "Postal rates and revenues" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc501850/", "id": "R41024_2010Mar17", "date": "2010-03-17", "retrieved": "2015-03-30T22:03:27", "title": "The U.S. Postal Service's Financial Condition: Overview and Issues for Congress", "summary": "This report provides an overview of the U.S. Postal Service's (USPS's) financial condition, recent legislation to alleviate the USPS's financial challenges, and possible issues for the 111th Congress.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100317_R41024_67d2f586e78d3cd663ef9879a7e373f581d5ba06.pdf" }, { "format": "HTML", "filename": "files/20100317_R41024_67d2f586e78d3cd663ef9879a7e373f581d5ba06.html" } ], "topics": [ { "source": "LIV", "id": "Postal service", "name": "Postal service" }, { "source": "LIV", "id": "Postal law and legislation", "name": "Postal law and legislation" }, { "source": "LIV", "id": "Postal rates and revenues", "name": "Postal rates and revenues" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc501750/", "id": "R41024_2010Jan19", "date": "2010-01-19", "retrieved": "2015-03-30T22:03:27", "title": "The U.S. Postal Service's Financial Condition: Overview and Issues for Congress", "summary": "This report provides an overview of the U.S. Postal Service's (USPS's) financial condition, recent legislation to alleviate the USPS's financial challenges, and possible issues for the 111th Congress.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100119_R41024_ddc17608d96cbdcf43caecf2e1f05272d56b00e5.pdf" }, { "format": "HTML", "filename": "files/20100119_R41024_ddc17608d96cbdcf43caecf2e1f05272d56b00e5.html" } ], "topics": [ { "source": "LIV", "id": "Postal service", "name": "Postal service" }, { "source": "LIV", "id": "Postal law and legislation", "name": "Postal law and legislation" }, { "source": "LIV", "id": "Postal rates and revenues", "name": "Postal rates and revenues" } ] } ], "topics": [ "Domestic Social Policy", "Economic Policy", "Intelligence and National Security" ] }