Postmaster warns postal service could change without higher borrowing limits

Postmaster General David Steiner said the Postal Service needs increased borrowing capacity to avoid running out of cash and that the agency has already reached its $15 billion borrowing cap. He is expected to present this written testimony to a House Oversight subcommittee.

Postmaster General David Steiner submitted written testimony saying the Postal Service needs more borrowing capacity to remain solvent beyond next year. He warned that without increased access to funds, the agency’s operations would face significant change. The USPS has a statutory borrowing cap of $15 billion and has reached that limit. Steiner is expected to present the testimony to a House Oversight subcommittee. Key points: - Postmaster General David Steiner’s written testimony states the USPS needs increased borrowing capacity to avoid running out of cash. - The Postal Service has a $15 billion statutory borrowing cap and has already hit that limit. - The testimony referenced possible cost-saving measures as options under consideration but did not finalize any changes. - Steiner is scheduled to present the written testimony to a House Oversight subcommittee. Summary: The testimony indicates the Postal Service is facing immediate funding limits tied to its borrowing cap. Congressional review, including the upcoming House Oversight subcommittee hearing, is the next stated procedural step.