ON FEB. 5, THE HOUSE OF REPRESENTATIVES OVERwhelmingly passed legislation that was as meaningful as it waslittle noticed. It repealed a 2006 law requiring the U.S. PostalService (USPS) to prefund its retiree health benefits and putUSPS on a pay-as-you-go program for retiree health funding,just like every other federal agency. Moreover, the measureabsolved USPS of billions of dollars in prior defaults on its prefunding obligations. Both steps removed massive sums fromUSPS’s sagging shoulders.
Wisely, lawmakers knew their limitations. In recent years,Congress tried to make postal reform legislation too broad andcame up short. This time, the language waspurposely crafted to be narrow in scope.
Stakeholders, USPS’s management in particular, knew this was a good first step torestoring USPS to viability. But all knew itwas just a first step. Full-scale reform wouldstill be required. However, an importantfoundation had been poured.
Unfortunately, the bill was overtaken byother events before the Senate could con
$2.2 trillion CARES (Coronavirus Aid, Relief, and Security)
