Postal Service to Miss $5.5 Billion Payment to U.S. Treasury - SFGate

Postal Service to Miss $5.5 Billion Payment to U.S. Treasury - SFGate: "July 31 (Bloomberg) -- The U.S. Postal Service affirmed it won’t make a required $5.5 billion payment due tomorrow to the U.S. Treasury for future retirees’ health care, an obligation the agency said must end for it to become financially viable.

The service has said for months it couldn’t afford the payment, which was initially due last September, nor a $5.6 billion payment required by Sept. 30 for this year. Postal legislation passed by the U.S. Senate on April 25 would slow the schedule for those obligations. The House hasn’t acted on a different postal measure aimed at changes to help the service cope with declining mail volume."

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