Published: Apr 29, 2021 What GAO Found In 2020, the majority of which was affected by the COVID-19 pandemic, the U.S. Postal Service (USPS) experienced a 9 percent drop in total mail volume when compared to 2019. The overall drop was primarily due to a 4 percent dip in First-Class Mail and a 14 percent…
The ongoing pandemic is exacerbating the Postal Service’s longstanding financial problems, but under current law, its universal service mission is largely undefined. As confirmed by a new GAO report, Congress must consider how best to reassess and determine the level of universal postal service the nation requires. Postal Regulatory Commission Chairman Robert G. Taub explains…
Chief Financial Officer Joe Corbett reviews the Postal Service’s latest in a “Dollars and Change” video released this week. During fiscal 2019’s second quarter (Jan. 1-March 31), USPS recorded revenue of $17.5 billion. Operating expenses were $19.6 billion, leaving the organization with a net loss of $2.1 billion. Several factors contributed to the net loss,…
