Task force delivers report to remedy U.S. Postal Service

Without reforms, the U.S. postal system, which lost $69 billion in revenue between 2007 and 2018, will lose tens of billions of dollars more over the next decade.

Task force delivers report to remedy U.S. Postal Service

Without reforms, the U.S. postal system, which lost $69 billion in revenue between 2007 and 2018, will lose tens of billions of dollars more over the next decade.

Task force delivers report to remedy U.S. Postal Service

Without reforms, the U.S. postal system, which lost $69 billion in revenue between 2007 and 2018, will lose tens of billions of dollars more over the next decade.

 
A U.S. Treasury Department task force charged with reviewing the Postal Services operations has released its recommendations for how to turn the financially beleaguered agency around.
    The task force said its recommendations, which were outlined in the report “United States Postal System: A Sustainable Path Forward,” will set the Postal Service on a path to “sustainability without shifting additional costs to taxpayers.” President Trump initiated the task force through an April 12 executive order.
    The report does not call for abolishing the $71 billion Postal Service (USPS), which handles more than 146 billion pieces of mail and packages a year to nearly 159 million households and businesses.
    However, between fiscal years 2007 and 2018, USPS experienced net losses totaling $69 billion, and without changes to its existing business model for mail is expected to lose tens of billions of dollars more within the next decade, the task force warned.
    “The USPS’ business model — including its governance, product pricing, cost allocation and labor practices — must be updated in light of its current operating realities,” the task force said.
   In its 74-page report, the task force made a number of recommendations to diminish USPS current financial woes, including developing a new pricing model that removes price caps and charges market-based prices for both mail and package items that are not deemed “essential postal services,” implementing cost-cutting measures, reforming employee compensation and considering new services that “exact value from its existing assets and business lines.”
    The task force’s report, however, stated “any potential solutions considered should not disadvantage those living in rural or remote locations.”

We’re spending about $15 billion a year more from the [federal highway] trust fund than we’re bringing in revenue, and that kind of imbalance between revenue and spending can’t continue.
 

The Port of Virginia’s container volumes rose 10.1% year-over-year in May to 260,894 TEUs, which included 119,592 TEUs of loaded imports, 88,065 TEUs of loaded exports and 53,237 TEUs of empty containers.

Most Popular
Latest News
Social Media

Loading...

BDP International partners with Greenbriar Equity

BDP International partners with Greenbriar Equity

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Copy & Paste the following code to embed this story on your website:

Preview

Task force delivers report to remedy U.S. Postal Service

Without reforms, the U.S. postal system, which lost $69 billion in revenue between 2007 and 2018, will lose tens of billions of dollars more over the next decade.

Dec 05, 2018 on Dec 27, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Copy & Paste the following code to embed this story on your website:

Preview

Task force delivers report to remedy U.S. Postal Service

Without reforms, the U.S. postal system, which lost $69 billion in revenue between 2007 and 2018, will lose tens of billions of dollars more over the next decade.

Dec 05, 2018 on Dec 27, 2018AmericanShipper.com