Oversight Committee Passes Two Bipartisan Bills to Overhaul the USPS

WASHINGTON — July 13, 2016 — The House Committee on Oversight and Government Reform has overwhelmingly passed two bipartisan bills to overhaul the U.S. Postal Service.

H.R. 5714, the Postal Service Reform Act, which was cosponsored by Chairman Jason Chaffetz (R-UT), Ranking Member Elijah E. Cummings (D-MD), Reps. Mark Meadows (R-NC), Stephen F. Lynch (D-MA), and Gerry Connolly (D-VA), would enhance revenue, improve efficiency, integrate Medicare, and streamline governance and oversight of the Postal Service.

H.R. 5707, the Postal Service Financial Improvement Act of 2016, which was cosponsored by Reps. Lynch and David McKinley (R-WV), would authorize the Secretary of the Treasury to invest a limited amount of the Retiree Health Benefits Fund in market-based index funds and establish a Postal Service Retiree Health Benefits Fund Investment Committee to help advise the Treasury Secretary on investments made from the Fund.

Chairman Chaffetz: "This bill reflects how working in a bipartisan, collaborative manner can bring about much needed reform. The outlook for the Postal Service is grim without the improvements contained in this bill. I hope the legislation sees quick action by the full House so the Postal Service can be one step closer to a viable, solvent future.”

Ranking Member Cummings:  “This bill is the product of intense negotiations that have been ongoing for months, and it is the culmination of broader efforts that have been underway for years.  I’m pleased that my colleagues and I were able to craft a bipartisan bill we can all support that will place the Postal Service on sustainable financial footing.”

Rep. Mark Meadows: “The members on this Committee have poured countless hours into the negotiations behind these much needed reforms, and I am pleased to see the final result. The reforms included in this bill will be critical in placing the Postal Service back on a sound financial path and in avoiding an almost inevitable taxpayer bailout of the Postal Service due to insurmountable debt. I want to thank my colleagues, Chairman Chaffetz and Ranking Member Cummings, for their leadership on this important issue.” 

Rep. Stephen Lynch: “We have a unique opportunity to put the Postal Service on a path to a more stable financial footing and ensure a secure future for postal employees, the mailing community, and the American people who depend on this trusted government institution. It is critical to act now and make commonsense reforms if we want the Postal Service to continue to meet its universal service obligation and be able to pay its bills next year. I thank my colleagues Chairman Chaffetz, Ranking Member Cummings, Rep. Meadows, and Rep. Connolly for their bipartisan compromise and cooperation on this important reform package.”

Rep. Gerry Connolly: “The Postal Service is in dire financial shape as a result of past congressional action that has stifled its innovation and flexibility. Without these reforms, this iconic American institution would continue its downward spiral to insolvency. Our bipartisan legislation represents a delicate balance in which all parties have had to compromise, and it puts the Postal Service on more stable footing so that it remains relevant and viable in the 21st century.”

Rep. David McKinley: “America’s postal workers deserve the comfort of knowing their future health benefits are not in jeopardy. This important legislation will provide the Treasury Department with the flexibility to keep the Postal Service Retiree Health Benefits Fund (RHBF) strong, so these workers can get the health care coverage they earned for their retirement.”

Source: U.S. House Committee on Oversight and Government Reform.