USPS faces severe financial crisis

The Postal Board of Governors took the emergency step to forgo pension contributions in an effort to preserve remaining cash and liquidity.

This move comes as the agency faces mounting operational costs and declining mail volumes, further exacerbated by broader economic pressures.

Postmaster General Louis DeJoy is seeking a 4-cent increase for First-Class Mail Forever stamps, which would raise the price to 82 cents.

The financial instability of the USPS has raised concerns on Capitol Hill about the long-term viability of the nation's primary delivery network.