U.S.P.S. Postmaster Says Service Will Be ‘Out of Cash’ in Under a Year

The U.S. Postal Service's Postmaster warned lawmakers at a hearing that the agency could deplete its cash reserves within a year without intervention. The USPS leader requested an increase to the service's borrowing authority to address mounting financial pressures. The Postal Service has faced years of declining mail volume and rising operational costs, strains that have intensified since the pandemic. A cash shortage would severely hamper mail delivery and other core services relied upon by millions of Americans and businesses. The request puts pressure on Congress to act on long-stalled postal reform legislation that would address the agency's structural financial problems.