The repeal of the pre-funding requirement for Retiree Healthcare Benefits
Integrating postal annuitants who had not yet subscribed to Medicare
The Postal Service shall maintain an integrated network for the delivery of market-dominant and competitive products and delivery shall occur at least six days a week.
This bill has had the support of all of the necessary stakeholders; USPS, Labor Unions, Mailers, and the White House. While many think it does not go far enough, it is a step in the right direction of strengthening the U.S. Postal Service. Efforts have been underway to pass postal reform in one form or another for the last 10+ years.
The Congressional Budget Office (CBO) determined in its scoring that the bill would save the government $1.5 billion over the next 10 years, and the House Oversight Committee estimates the savings to the USPS at over $50 billion over ten years.
The companion legislation in the Senate (S.1720) was authored by Senator Gary Peters, D-MI, with a total of 14 Republican, 12 Democratic and 1 Independent Cosponsors so it has received significant bipartisan support.
Although not a done deal yet, Senator Peters hopes to see the bill move quickly through the Senate so it can advance to the President’s desk for signing.
Passage of this bill would help mitigate some of the upcoming July 2022 price increase as it should remove the need for 1.071% retirement factor and put the USPS in a better financial position. However, this bill does not yet remove their ability to use the density factor and non-compensatory surcharge.
LSC Communications continues our work to make our voices heard in the House and Senate concerning your needs for substantial Postal Reform. We will update you when the Senate bill is moved for a vote.
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