Rep. Darrell Issa said Monday the money-losing U.S. Postal Service needs to be “right-sized” instead of receiving another federal bailout.
Issa, who last month sponsored legislation to reform the Postal Service, released a statement following news that the service posted a $2.1 billion loss in the most recent quarter.
“The Postal Service’s latest reported loss illustrates the urgent need for postal reform to prevent a taxpayer funded bailout of the Postal Service,” Issa said. “Unfortunately, some in Congress still have not come around to the need to allow the struggling institution to right size itself. In fact, just last week, 22 Senators asked for a renewed moratorium on mail processing facility consolidations, consolidations that would enable the Postal Service to save hundreds of millions of dollars each year.
“Next month the Postal Service will default on a $5.7 billion payment to the U.S. Treasury to fund retiree health care costs. This will be the fourth straight year in which the Postal Service has defaulted; together these defaults will cost taxpayers $22.4 billion,” he added.
Issa, a Republican, represents the 49th District, which includes coastal San Diego from Del Mar north, plus Vista and San Marcos, as well as large parts of south Orange County.
>> Subscribe to Times of San Diego’s free daily email newsletter! Click hereFollow Us: