Summary Box: Postal Service says House must act

AP News
Posted: May 04, 2012 4:31 PM
Summary Box: Postal Service says House must act

NEARLY BANKRUPT: The U.S. Postal Service is urging the House to quickly pass legislation that would give it wide authority to close thousands of low-revenue post offices, reduce labor costs and end Saturday delivery. The agency forecasts a $14.1 billion loss by the end of this year; without changes, it says annual losses would exceed $21 billion by 2016.

SENATE BILL NOT ENOUGH: The Postal Service's board said a bill passed by the Senate that would provide the Postal Service with an $11 billion cash infusion, but would keep Saturday delivery for at least two years and slow or halt the closing of up to 252 mail-processing centers and 3,700 post offices, does give the agency enough flexibility.

HOUSE VERSION HARSHER: The House version of the bill also provides for an $11 billion infusion but allows the Postal Service to proceed with its full proposed cuts, including ending Saturday delivery after six months.