WASHINGTON, D.C. – The Postal Service Reform Act is now regulation, after being signed by President Joe Biden on Wednesday.
It is the primary main piece of reform for USPS in 15 years, with a uncommon exhibiting of bipartisan help, passing the Senate 79-19.
“We’re guaranteeing that the mail will proceed to be delivered six days every week,” Biden stated.
“I believe it’ll put the Postal Service on a strong footing monetary sensible and I believe it’ll give them the chance to reverse a number of the detrimental adjustments which have been put in place since 2006,” stated Andy Kubat, President of the Lehigh Valley Space Native APWU.
Kubat says the regulation undoes lots of the points with the 2006 Postal Accountability and Enhancement Act that compelled pointless value cuts.
The brand new regulation stops requiring the postal service to pre-fund its retiree well being care prices 75 years out.
“Over the previous 15 years, over 92% of postal losses have been attributed to this pre-funding mandate,” Kubat stated.
It is going to additionally require postal employees to enroll in Medicare when eligible, saving round $50 billion over the following decade.
Kubat says the financial savings will permit USPS to enhance service by making it simpler to convey on extra employees, replace sorting machines, and change over to newer, electrical automobiles.
“Any enterprise that needed to drop $5.5 billion at the start of the 12 months earlier than it offered product primary, it is an onerous burden,” Kubat stated.
The invoice additionally permits the USPS to work with state and native governments to supply new non-postal providers.