Postal Service, providing monetary relief for the agency that leaders say will allow it to modernize. While the PSRA provided a much-needed boost to the USPS, these latest financial results reveal there is more work to do to sustain this vitally important institution. The Senate on Tuesday approved a 107 billion financial overhaul of the long-beleaguered U.S. Benefits included transforming the Postal Service's finances, guaranteeing the integrated mail and package network, increasing transparency, and more. The PSRA was a bipartisan achievement that delivered major benefits to the postal ecosystem of businesses, nonprofits and consumers throughout the country who use it. civilian labor force) and $1.9 trillion in sales revenue, nearly 7% of GDP. The Postal Service must find a way to hold the line on costs, just as every business in America must."Īn updated study from the Envelope Manufacturers Association found that the mailing and shipping industry accounts for 7.9 million jobs (representing 5% of the U.S. Even though the landmark Postal Service Reform Act (PSRA) only passed last year, Congress must turn its attention back to USPS and start considering precise solutions to put the Postal Service on a solid path for the future. They count on predictable, affordable rates and reliable speeds. "Americans depend on mail and packages delivered by the Postal Service. Eduardo Flores, an Alexandria, VA, letter carrier, scans a package in June. As we head into the holiday shipping season, though, postal costs and prices are increasing much faster than businesses and consumers can keep up," said Art Sackler, executive director of the Coalition for a 21st Century Postal Service. Postal Service is an engine for America's economy and a lifeline for rural Americans across the country. Shipping and packages revenue increased 12.2 percent, while Marketing Mail revenue increased 4.9 percent. Operating revenue was 77 billion, an increase of 5.3 percent from the previous fiscal year. Marketing mail experienced steep declines in revenues and volume. The Postal Service has reported its financial results for fiscal year 2021 (Oct. Package and first-class mail services drove revenue increases, though both categories experienced declines in volume driven by price increases well beyond inflation – 27% in two years. The Postal Service reported $78.2 billion total revenues and $85.4 billion in operating expenses. businesses and consumers across the country, supporting nearly 8 million jobs in the mailing industry. The Postal Service provides critical mail and package delivery services for U.S. Postal Service released concerning financial results for the 2023 fiscal year, revealing a $6.5 billion net loss. Perry prosecuted this case.Coalition for a 21st Century Postal Service stands ready to work with Congress. USPS-OIG investigated this case and Assistant U.S. Perrine no longer works for USPS, as he resigned his position after he was charged in this case. Perrine was ordered to pay full restitution of $2,480 to the USPS. For example, Perrine admitted that he stole and cashed a $400 money order on or about September 13, 2022, and that he documented the money order as having been issued as payment for “local transport.” Similarly, Perrine admitted that on November 15, 2022, he stole and cashed a $200 money order, which he fraudulently documented as having been issued as payment for “office supplies.” Each program has been created to provide a meaningful experience that can attract top talent from universities and colleges. Perrine previously pled guilty and admitted that while working for the USPS in Ithaca, New York, he stole 10 money orders totaling $2,480, by issuing them to himself and entering fraudulent justifications in a USPS accounting system. USPS provides programs where current students, recent graduates and entry-level professionals can gain work experience and develop critical professional skills. Terms of Service and Accessibility Privacy. Freedman and Special Agent in Charge Matthew Modafferi, United States Postal Service Office of Inspector General (USPS-OIG), Northeast Area Field Office, made the announcement. Congress and USPS urgently need to take action to restore USPS's financial viability as business and consumer use of the mail. Financial FraudMail & Package TheftSuspicious MailOlder AmericansCybercrimeChild Safety. SYRACUSE, NEW YORK – Stephen Perrine, age 40, of King Ferry, New York, was sentenced today to 12 months of probation for stealing money orders from the United States Postal Service (USPS).
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