Congressman Lynch Statement on Postal Service Reported Net Loss of $354 Million

Feb 7, 2014

Congressman Stephen F. Lynch, Ranking Member of the Subcommittee on the U.S. Postal Service, released the following statement today on the U.S. Postal Service’s Quarterly Financial Report:

“The quarterly financial report released by the U.S. Postal Service today again highlights the need for Congress to enact meaningful postal reform. With a USPS net loss of $354 million for the first quarter of fiscal year 2014 and a fourth consecutive default on its annual retiree health benefits payment on the horizon, the Postal Service is still facing serious financial challenges that can only be addressed through bipartisan Congressional action. To this end, I continue to urge the House Leadership to take up commonsense postal reform legislation, including H.R. 961, the United States Postal Service Stabilization Act. My legislation would enhance the finance stability of the Postal Service without compromising mail delivery standards, outsourcing postal operations, or unfairly burdening our dedicated postal workforce. H.R. 961 has also been cosponsored by over 160 Members of Congress, including 10 Republicans.”