USPS Faces Fiscal Crisis: Agency Chief Warns of Funds Depletion by 2027
Postmaster General David Steiner warns that the U.S. Postal Service will run out of funds by February 2027 unless Congress lifts the cap on the agency's borrowing capacity.
The United States Postal Service (USPS) is facing a looming financial crisis, according to a dire warning from Postmaster General David Steiner. In a recent interview with the Associated Press, Steiner stated that the agency will run out of funds by February 2027 unless Congress takes action to lift the cap on the USPS's borrowing capacity.
The Postal Service, which operates without any taxpayer funding and relies solely on revenue from stamps and service fees, has been struggling with declining mail volumes and rising costs for years. Steiner, who has been at the helm of the USPS since 2019, has called for changes to the federal law that caps the agency's borrowing at $15 billion.
Source: The Guardian
