House Subcommittee Hearing Today March 25th On Postal Service Finances

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Subcommittee Holds Hearing to Address the Financial Stability of the U.S. Postal Service

The Subcommittee will discuss the short and long term strategies to reduce costs and improve efficiency.

WASHINGTON, D.C. – On Wednesday, March 25, 2009, at 10:00 a.m. in room 2154 of the Rayburn House Office Building, the Subcommittee on Federal Workforce, Postal Service and the District of Columbia will hold a hearing entitled, “Restoring the Financial Stability of the U.S. Postal Service: What Needs to be Done?”

The Subcommittee will examine how the nationwide economic downturn, coupled with technological trends, has produced declining volumes and revenues for the United States Postal Service.

“With the Postal Service facing budget shortfalls the Subcommittee will consider a number of options to restore financial stability, and examine ways for the Postal Service to continue to operate without cutting services,” Chairman Stephen F. Lynch said.

The Postal Service’s recent decision to close six of its 80 district offices, eliminate positions across the country and offer another early retirement opportunity makes the Subcommittee’s hearing very timely.

The hearing aims to generate effective short and long term strategies to reduce costs and improve efficiency at the Postal Service. In addition, the Subcommittee will question the Board of Governors on Postal executives’ compensation packages.

“Given the ongoing financial losses at the Postal Service, there has been a considerable backlash among postal customers and current and former employees regarding the Postal executives’ compensation packages, including that of Postmaster General Potter. Members of Congress have been hearing from our constituents and we intend to look into this matter at the hearing and ascertain how those pay levels were determined and how to bring them in line with the current reality,” added Chairman Lynch.

Witnesses’ testimonies, the Chairman’s opening statement and a 10 a.m. live broadcast of the hearing can be found on the Subcommittee’s website, federalworkforce.oversight.house.gov

From today’s House Hearing on the US Postal Service

        Chairman Lynch’s Statement (9 KB)