Proposed $20bn Budget in Financial Relief for USPS

"...US President Barrack Obama has proposed a new Budget that seeks more than $20bn in financial and operational relief for the US Postal Service.

The 2015 Budget proposes to return $5bn in pension surpluses to USPS over two years and restructure the Postal Service’s retiree health benefits pre-funding system to potentially provide $9bn in relief up to 2016.

It would defer about $16.7bn in payments defaulted by USPS in 2012 and 2013 to spread repayment out from 2017.

The President’s Budget also proposes some operational changes in the US Mail, starting with an immediate move to abandon Saturday mail delivery and move to a five-day-a-week schedule..."

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