Passage of HR 1351, would prevent the financial collapse of the USPS — without closing thousands of post offices, eliminating hundreds of mail processing facilities, delaying mail delivery, laying off 120,000 workers, cutting postal workers’ pay, or ending collective bargaining rights. It would allow the Postal Service to apply billions of dollars in pension overpayments to the congressional mandate that requires the USPS to pre-fund the healthcare benefits of future retirees.
No other government agency or private company bears this burden, which forces the Postal Service to fund a 75-year liability in 10 years — at a cost of more than $5 billion annually. Without the mandate, the USPS would have shown a surplus of $611 million over the past four fiscal years.