A federal regulatory official informed Congress on Thursday that the cash-strapped U.S. Postal Service should avoid bankruptcy in the upcoming year, though serious financial challenges remain.
Robert Taub, vice chair of the Postal Regulatory Commission, delivered written testimony to a U.S. House committee stating that recent financial relief measures have pushed back the agency’s “reported insolvency” by several additional years, provided USPS makes crucial spending decisions. “Given the Postal Service’s severe and worsening financial situation, we as a nation must respond. I do not believe that we can leave it up to the Postal Service to save itself,” Taub’s testimony states.
The testimony highlights ongoing concerns about the long-term viability of the postal agency despite the temporary reprieve from immediate financial collapse.
