TLP: Congress Ready to Go Postal
As if the Postal Service wasn't having enough trouble. Congress rejected a request for a 2-cent stamp price increase and the USPS has announced an $8.5 billion annual loss. Now, this.
Rep. Darrell Issa, Republican of California, who is set to become chairman of the Oversight and Government Reform Committee in the next Congress, said on Friday that he would push for major changes at the Postal Service, which has announced an $8.5 billion annual loss.Issa seems to have big plans once the Republicans become the majority party in the House, such as non-stop investigations — "seven hearings a week, times 40 weeks," he told Politico.
“This loss only underscores the urgent need for the Postal Service to trim its operating costs to match revenues,” Mr. Issa said in a statement. “Congress has an obligation to ensure that effective solutions are implemented and taxpayers don’t get stuck paying for a bailout.”
Mr. Issa has long warned that ongoing losses by the Postal Service could force taxpayers to “bail out” the agency, which by law is supposed to be self-funded.
He has cited the need to downsize the labor force and reduce costs to reflect declining demand and new market conditions.
All the Postal Service officials can hope is that their summons gets lost in the mail.