bobbyw24
06-24-2011, 04:32 AM
Rep. Darrell Issa, chairman of the congressional oversight committee, introduced legislation on Thursday to significantly reform the United States Postal Service in order to prevent the need for a “taxpayer bailout.”
The legislation follows USPS’ announcement on Wednesday that it will no longer pay money into its Federal Employee Retirement System in order to cut costs.
Issa said that such a solution was not acceptable.
“The Postal Service lost $8.5 billion last year,” he said in a statement. “It is going to lose, at least, $8.3 billion this year. And it is projected to lose $8.5 billion the year after that. Congress can’t keep kicking the can down the road on out of control labor costs and excess infrastructure of USPS and needs to implement reforms that aren’t a multi-billion dollar taxpayer funded bailout.”
Read more: http://dailycaller.com/2011/06/24/issa-introduces-bill-to-prevent-bailout-of-postal-service/#ixzz1QBjnVY2v
The legislation follows USPS’ announcement on Wednesday that it will no longer pay money into its Federal Employee Retirement System in order to cut costs.
Issa said that such a solution was not acceptable.
“The Postal Service lost $8.5 billion last year,” he said in a statement. “It is going to lose, at least, $8.3 billion this year. And it is projected to lose $8.5 billion the year after that. Congress can’t keep kicking the can down the road on out of control labor costs and excess infrastructure of USPS and needs to implement reforms that aren’t a multi-billion dollar taxpayer funded bailout.”
Read more: http://dailycaller.com/2011/06/24/issa-introduces-bill-to-prevent-bailout-of-postal-service/#ixzz1QBjnVY2v