Ask your representative to cosponsor H. R. 1351

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We respectfully request that you consider becoming a cosponsor to H.R. 1351, a bill introduced by Representative Stephen Lynch of MA.

The U.S. Postal Service is currently facing a financial crisis partly due to the recession, but more significantly caused by the burdensome requirement of the 2006 Postal Accountability and Enhancement Act (PAEA) that it make payments averaging $5.5 billion dollars annually to prefund it retiree health benefits. Absent those prefunding mandates the Postal Service would actually be operating at a surplus over the last 4 fiscal years.

In addition, recent independent audits have shown that the USPS has already overfunded its Civil Service Retirement Fund by over $50 billion dollars and also has overfunded the Federal Employee Retirement System by nearly $7 billion dollars.

H.R. 1351 would resolve those financial inequities and bring the Postal Service into financial solvency with no use of tax payer money.

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Postal banking will not save the Post Office, as it will not reduce the amount the Post Office must pre-pay for future retiree health care benefits, as required by the 2006 Postal and Enhancement and Accountability Act (PAEA).

PAEA is the real problem. Enact H.R. 1351, and the Post Office will be just fine.

Then (and only then) can we advocate for modernizing the Post Office, which could include Postal banking.
Remove ridiculous pre-funding requirement, and allow then to use surplus and saved funds to pay down debt