Biden signs Postal Service Reform Act eliminating pre-funding mandate that drove USPS losses

President Biden signs the Postal Service Reform Act into law with bipartisan support. The law eliminates a 2006 mandate that required the US Postal Service to pre-fund retiree health benefits 75 years in advance, a requirement no other federal agency faces. That mandate had driven the USPS to post net losses for 15 consecutive years, totaling over $160 billion. The law requires USPS retirees to enroll in Medicare, moves employees to the federal health benefits marketplace, and requires six-day delivery service. Postal workers union leaders call it a important step toward USPS financial stability.