Senator Carper Convenes Bipartisan Briefing on Postal Service Finances

WASHINGTON – Sen. Tom Carper (D-Del.), ranking member of the Homeland Security and Governmental Affairs Committee, convened a bipartisan briefing on the state of Postal Service finances Thursday afternoon. The briefing provided an important opportunity for all senators to hear from the U.S. Postal Service along with key oversight bodies, including the U.S. Postal Service Office of the Inspector General and the Government Accountability Office, on how revenue generation and cost cutting initiatives have impacted the Postal Service’s bottom line and the forecast for the rest of the year. This is the first of several forums organized to analyze and discuss the Postal Service and congressional reform efforts.

“To this day – more than 200 years after its founding – the Postal Service remains an important part of our lives and economy,” Sen. Carper said. “But it continues to face financial challenges that threaten its future. In fiscal year 2014 alone, the Postal Service reported a net loss of $5.5 billion largely due to the steady decline of first class mail. We can’t stand idly by and let an institution that operates at the center of a $1 trillion industry and employs over 7 million people falter. While Postal Service management has done what it can to cut costs and compete in the digital age, its needs Congress to help pave a fiscally sustainable path that will enable this American institution to grow and thrive.

“I am committed to working with my colleagues in Congress, the Administration, and stakeholders to build on our efforts and find a solution that works for the Postal Service, its customers and its employees, and give it the tools it needs to survive and prosper in the years to come,” he continued. “I hope this briefing provided members an opportunity to better understand the Postal Service’s financial status and help begin the process of addressing reform this Congress. I thank Chairman Johnson, Senator Sanders, and our other colleagues who joined us for a constructive and thoughtful conversation, and I look forward to continuing this important dialogue with them and others in the coming weeks.”