Congress Passes $50 Billion U.S. Postal Service Relief Bill

WASHINGTON—The U.S. Senate voted overwhelmingly on Tuesday to provide the long loss-making Postal Service (USPS) with about $50 billion in financial relief over a decade and require its future retirees to enroll in a government health insurance plan. In a rare display of bipartisanship for a narrowly divided Congress, the 79–19 vote follows approval by the U.S. House of Representatives in early February and sends the bill to President Joe Biden for his signature.

Struggling with diminishing mail volumes despite having to deliver to a growing number of addresses, USPS has reported net losses of more than $90 billion since 2007. Last month, it booked a quarterly net loss of $1.5 billion. The bill will ensure “this essential public service” is “set on a path to long-term financial sustainability,” said Senator Gary Peters, a Democrat who chairs the committee overseeing USPS and is a lead sponsor of the bill. AFL-CIO …