The U.S. Postal Service could run out of money within a year. Postmaster General David Steiner warned this may happen unless Congress allows the agency to borrow more money. If the cap does not change, the Postal Service might not pay its workers or suppliers by February 2027, affecting mail delivery.
Steiner plans to speak to Congress about the financial issues the Postal Service faces. He said the borrowing limit of $15 billion, set in 1990, needs to change. The Postal Service is mostly funded by postage fees but has many responsibilities like delivering mail six days a week, without government funding.
Steiner believes that raising the borrowing limit is an easy step lawmakers can take to assist the agency. He also suggested expanding services, such as a delivery option called last-mile delivery, which focuses on getting packages to customers’ homes.
In 2025, the Postal Service lost $9 billion, even as its revenue increased. Steiner said other changes are essential, like allowing the Postal Service to raise postage prices. He suggested the price of a first-class stamp should increase from 78 to 95 cents. However, an independent commission must approve such changes.
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Vocabulary List:
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cap/kæp/noun
A maximum limit set on something (for example the highest amount allowed to be borrowed).
borrowing limit/ˈbɔːr.oʊ.ɪŋ ˈlɪm.ɪt/noun phrase
The maximum amount of money an organization or person is allowed to borrow.
