USPS could run out of cash, stop delivering mail next year

From NPR.

The postmaster general says the U.S. Postal Service says the agency is months away from running out of money and may have to stop delivering mail next year if Congress doesn’t help stabilize the agency.

The Postal Service relies on stamps and service fees — not tax dollars — to deliver mail and packages six days a week to every address in the country. But people and businesses are sending a lot less mail than in past decades. Now, Postmaster General David Steiner says USPS could be out of cash for paying its workers as soon as this October, but says that could be delayed until February 2027 if USPS holds off on paying more of its obligations.

“If you want the same number of delivery days and post offices, we can do that, but someone has to pay for it. If you want to have a discussion about reducing services, we can do that too. But there’s one thing we can’t do, and that is the status quo," Steiner says.

He is urging Congress to increase the Postal Service’s debt limit and to reform how it pays for retirement benefits.