![]() ![]() ![]() USPS, under this plan, also anticipated fully digging out of its long-term financial hole by 2030, going from $160 billion in projected net losses to a $200 million net profit. Under the “Delivering for America” plan, released in March 2021, USPS expected to start breaking even on its annual finances as soon as 2023, but no later than 2024. “Unfortunately, with all that has been accomplished financially, our 2023 budget will not show the break-even results we were striving for,” DeJoy said Thursday.įederal News Network's DoD Cloud Exchange: From enterprise to the tactical edge - discover how the Defense Department and military services intend to advance their use of cloud technologies But the sudden reversal of its financial situation is only through short-term relief from a major postal reform bill President Joe Biden signed into law in April.Īs for long-term resolutions to its finances, Postmaster General Louis DeJoy told the USPS Board of Governors the agency isn’t expected to reach a financial “break-even” point in fiscal 2023, as expected in the agency’s 10-year reform plan. USPS reported a $56 billion net income for fiscal 2022, ending a 15-year streak of annual net losses. But the sudden reversal of its financial situation is only through short-term relief from a major postal reform bill President Joe Biden signed. The Postal Service is falling behind on a plan to reverse its long-term financial losses, citing record inflation and what it calls unsustainable contributions to a federal retirement fund that covers some postal retirees. ![]()
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