![]() And Postal Service pricing must be approved by the Postal Regulatory Commission, an independent government agency. Unlike other government agencies, the USPS generally does not receive taxpayer funding, and instead must rely on revenue from stamps and package deliveries to support itself.Īnd unlike private courier services such as UPS and FedEx, the USPS cannot excise unprofitable routes because Congress stipulates that the Postal Service delivers to all homes in America – including a remote community in the Grand Canyon, where the mail is delivered by mule. ![]() The legislation will also require the USPS to create an online dashboard with local and national delivery time data.Įstablished in 1775 to promote the free exchange of ideas across the colonies, the Postal Service is among the country’s oldest government institutions – yet it operates with few of the financial benefits of being a federal agency while still bearing many of the costs. Those two measures would save the USPS nearly $50 billion over the next decade, according to the House Oversight Committee. The Postal Service Reform Act will require retired postal employees to enroll in Medicare when eligible, while dropping a previous mandate that forced the agency to cover its health care costs years in advance. ![]() “Today, we enshrine in law our recognition that the Postal Service is fundamental,” Biden said.īut what exactly is in the law, and how will it affect most Americans? Here’s what you need to know: The Postal Service Reform Act, which enjoyed a rare wave of bipartisan support in the House and Senate, bolsters an agency that is “as essential as it ever was,” the President said before signing the legislation. President Joe Biden on Wednesday signed a new law that will overhaul the US Postal Service’s finances and allow the agency to modernize its service.
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