While the postal service is a quasi government agency, it is in a unique position since it has not been funded by taxpayer dollars since the 1980s. Instead, the post office relies on its own revenue from mail services
WASHINGTON — Amid a cash crunch threatening to put the U.S. Postal Service out of business, the Trump administration is being accused of blocking bipartisan efforts to provide money to the agency as part of a long-sought conservative effort to privatize mail delivery.
“There was bipartisan support for direct appropriations to go to the Postal Service,” said a committee aide, who requested anonymity to discuss ongoing negotiations. Treasury Secretary Steve Mnuchin “said you can have the loan or you can have nothing.”A spokesperson for Senate Homeland Security and Governmental Affairs Committee Chairman Ron Johnson, a Wisconsin Republican, did not respond to a request for comment.
Story continuesWhile the administration says it is working with the Postal Service, Ronnie Stutts, the president of the National Rural Letter Carriers Association, accused the White House and Treasury Department of blocking postal funding as part of an effort to privatize the agency.The Treasury Department and Trump want “to privatize postal service,” he added. “There's no two ways about it. And when it got there, he killed it. They said no. He was not going to give us any money.
The presentation, which was obtained by Yahoo News, predicted that there would be 35 billion fewer pieces of mail in the remainder of the fiscal year, which ends in September. The Postal Service is forecasting the declines to continue through the next fiscal year leading to a $23 billion increase in net losses over the next 18 months.
“Right now it’s approximately $11 billion that we’ve defaulted and it’s about 5.5 billion each year to pre-fund retirement. We just don’t have the money,” Stutts said. “It’s not going to be paid back. And if we borrowed $10 billion, it’s just going to put us further in debt.”
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