Postmaster says USPS may need emergency rate hike

September 19, 2013, 10:51 am
SHARE THIS POST
Print Article


WASHINGTON (AP) - The Postal Service may need an emergency rate increase to stay afloat.
    
That's according to Postmaster General Patrick Donahoe, who's testifying before a Senate committee. Donahue says the agency's cash balance next month likely will cover only five days of its average daily expenses.
    
The panel is looking at a plan to fix the agency's finances, including ending Saturday delivery and changing the way retiree health care costs are calculated.
    
Without help from Congress, the agency expects its multibillion-dollar annual losses to worsen.
    
Media and marketing firms that depend on postal services say a broad rate hike could hurt their business.
    
The independent Postal Regulatory Commission must approve any emergency postal rate increase request.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Tags: us, budget, Cost, post office, rate, expenses, postal, servie, hke
RELATED STORIES
COMMENTS
Suspension begins Thursday night unless Pineda appeals
Officers responded to call for body found in water off Long Wharf on Wednesday
Worcester County DA's Office says 1-month-old Aliana Elise LaVigne was found dead in her mother's Grafton, Mass. apartment