US Postal Service Warns Congress: Cash Crisis Looms

0:00On March 16, the U.S. Postal Service heads to Congress this Tuesday with a stark warning. They're facing a deep financial hole and could run out of cash in less than a year without major fixes. Postmaster General David Steiner plans to urge lawmakers for key changes like hiking stamp prices and expanding the agency's borrowing limits to stay afloat. These steps might hit everyday service hard, including dropping to five-day mail delivery, closing some post offices, or pushing first-class stamps up. To $1 or higher from $0.78 now, Steiner's prepared remarks highlight the urgency of more borrowing power to survive past next year, warning that delays could spell the end of the Postal Service in its current form. As Congress weighs these options, the future of reliable mail delivery hangs in the balance per millions of Americans.