Postmaster General Says USPS Could Run out of Money by October

USPS needs reforms from Congress, like higher stamp prices and the ability to borrow more money, the postmaster general told lawmakers.

A USPS van driver wearing a protective face mask parks the car on a street in Manhattan, N.Y., on Aug. 24, 2020. Chung I Ho/The Epoch Times

The U.S. Postal Service (USPS) might run out of funds by October or November of this year, the head of the agency told Congress on Tuesday.

In a House Oversight and Government Reform Subcommittee on Government Operations hearing, U.S. Postmaster General David Steiner said the USPS needed reforms from Congress, otherwise the agency could be out of money if it continues making required retirement and other payments to the government.