Essential service: Rural America can’t let Trump allow USPS collapse
The United States Postal Service is one year older than the nation itself - having been established by Benjamin Franklin in 1775. It is not just part of our history, it still remains a backbone for connecting people and businesses - even in the internet era.
Unfortunately, the USPS has been engaged in a battle for survival on two fronts.
First of all, it carries the burden of a senseless law passed by Congress in 2006. The Postal Accountability and Enhancement Act (PAEA) required the USPS to create a $72 billion fund to pay for the cost of its post-retirement health care costs - 75 years into the future. That amounts to $5.5 billion a year into a fund for future retirees. The majority of the agency’s losses since 2007, about $32 billion, result from this requirement.
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