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Postal Service Funds Would Go to Highways Under House GOP Proposal
"...House Republicans are constructing a proposal to keep thousands of road and transit projects from grinding to a halt this summer by transferring funds into the nation's nearly depleted Highway Trust Fund from the already money-losing U.S. Postal Service...."
"...The Postal Service plans to drop Saturday delivery of first-class mail by August in its latest effort to cut costs after losing nearly $16 billion last fiscal year, the cash-strapped mail agency said on Wednesday...." This Article is From: ReutersRead our latest posts!
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U.S. Postmaster General: "We're facing our own fiscal cliff"
"...Privatization of the Postal Service has been a topic of discussion for years, but the issue is delivering to the areas the U.S.P.S. does. "We're required by law to provide universal service to the American public at a universal price," he said. "(FedEx and UPS) are great companies. But there are many parts of the country that FedEx and UPS don't deliver, but maybe two times a week. If we had the flexibility to change delivery schedules, we would make money, too."..."
"... Assuming the PRC and Congress approve the plan, Pulcrano said it would take about six months to implement five-day mail delivery. PRC Chairman Ruth Goldway said last week it might take six to nine months for her panel to issue an advisory opinion...." Source: multichannelmerchant.com