The Senate Governmental Affairs Committee has unanimously
approved postal overhaul legislation sponsored by Chairman
Susan Collins, R-Maine, and Sen. Tom Carper, D-Del.
The bill repeals a provision requiring that money owed to
the Postal Service due to an overpayment into the Civil
Service Retirement System fund be held in an escrow account.
The provision would free up $78 billion over 60 years which
would represent a means to pay off debt to the Treasury and
fund health care liabilities as well as prevent large rate
increases.
The bill also shifts the responsibility of paying military
service related CSRS pension benefits to the Department of
the Treasury — something no other federal agency is required
to do, said the statement.
The legislation gives the USPS board of governors authority
to set rates for competitive products, gives the postal
regulatory commission power to increase prices during
emergencies like the anthrax attacks, and authorizes USPS to
cut deals with mailers whereby mailers do some of the work.
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