USPS financial loss: Postal Service flags $9 bn deficit; agency pushes price hikes

Facing a staggering $9 billion annual loss, the US Postal Service is pushing for significant administrative and legislative reforms. New Postmaster General David Steiner highlighted the need for new revenue streams and policy changes to address a deep-seated financial imbalance. These proposed changes aim to improve the agency’s business model amidst declining mail volumes and past restructuring efforts.