The United States Postal Service Postmaster General David Steiner has warned lawmakers that the agency could run out of cash in less than a year unless Congress approves higher borrowing authority and allows additional postage rate increases.
During a congressional oversight hearing in Washington, Steiner stated that the Postal Service would be unable to continue normal mail delivery within about 12 months if the current financial conditions remain unchanged.
The agency reported net losses of $9.5 billion in fiscal 2024 and $9 billion in fiscal 2025. In the first quarter of fiscal 2026, covering October through December 2025, the Postal Service posted an additional $1.3 billion loss.
Steiner suggested that one immediate solution would be to raise the federally mandated borrowing cap, which would give the agency more time to decide on long-term operational changes. He also urged lawmakers to loosen pricing rules, enabling the Postal Service to charge more for postage.
Members of Congress from both parties acknowledged the urgency of the situation but questioned whether the agency has done enough to reduce waste and improve efficiency under its existing authority.
The financial warning comes five years after the Postal Service launched its Delivering for America restructuring plan, which aimed to restore long-term stability after cumulative losses of $87 billion over 14 years
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.