From CBSnews.com….
Postmaster General Louis DeJoy on Tuesday unveiled a proposal to overhaul the U.S. Postal Service, describing his 10-year plan as necessary to stanch billions of dollars in losses and put the agency on the path to profitability. But critics are voicing concerns about key elements of the plan, including slower delivery standards and planned closures of some postal offices.
DeJoy said the plan will “erase” a projected $160 billion loss over the next decade by boosting revenue through expanded parcel delivery and potential postage hikes. Other savings would require action by Congress to change requirements for pre-funding retiree pension obligations and by integrating the postal service’s retiree health care coverage with Medicare.
Notably, the plan would slow the USPS’ delivery standard for mail to six days. Currently, the standard is three-day delivery for any destination within the continental U.S.
