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U.S. Senators back $46 billion in financial relief for Postal Service

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Reuters

WASHINGTON (Reuters) – A bipartisan group of 20 U.S. senators on Wednesday released legislation to provide the cash-strapped U.S. Postal Service (USPS) with $46 billion in financial relief over 10 years. The House of Representatives Oversight and Reform Committee voted unanimously to approve companion legislation last week. The legislation would eliminate a requirement USPS pre-fund retiree health benefits for 75 years and would require postal employees to enroll in the Medicare government-retiree health plan. Instead USPS would pay a small yearly “top up” payment to address actual annual reti…

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