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Postmaster says Senate bill a good start to postal overhaul

Postmaster General Patrick Donahoe says a Senate bill aiming to overhaul the Postal Service's financial structure by providing the agency more flexibility to price its products is a good first step. Donahoe has been calling on Congress to approve comprehensive postal reform for much of the last two years. In that time, the cash-strapped agency has posted losses of $20 billion and defaulted on more than $11 billion in payments to prefund retiree health care costs. USPS is set to default on a $5.6 billion payment due Sept. 30 payment, Donahoe said.

Tags: USPS , postal reform , Senate , Senate Homeland Security and Governmental Affairs Committee , Patrick Donahoe , Tom Carper , Ruth Goldway , Tom Coburn , APWU , Jack Moore

Thursday - 09/19/2013, 06:00pm EDT