Overview
- Postmaster General David Steiner told a House Oversight panel the Postal Service could run out of money as soon as October or November 2026 if it continues required government payments, or around February 2027 if those payments are stretched.
- USPS has reached its $15 billion statutory borrowing limit and is asking Congress for more borrowing authority and latitude to raise prices, including moving first‑class stamps toward roughly $0.90–$1 from $0.78.
- Steiner outlined cost‑cutting options such as ending six‑day delivery and closing small rural post offices, estimating annual savings of about $3 billion and $840 million respectively, while noting these steps may be unpopular.
- GAO officials testified the agency’s business model is unsustainable and urged addressing structural issues now, warning of significant retiree health costs expected later in the decade.
- Committee leaders pressed for transparency and measurable progress before considering more debt capacity, as USPS awaits an Alvarez & Marsal review and continues to report steep losses tied to long‑term declines in first‑class mail.