On March 17, 2026, Postmaster General David Steiner testified to the House of Representatives Oversight Subcommittee on Government Operations. During his testimony, Steiner stated that the Postal Service is running out of money and is in need of some financial reforms from Congress and the White House. Among Steiner’s proposals, there are three major fixes APWU supports.
RAISE THE POSTAL SERVICE’S BORROWING LIMIT
RAISE THE POSTAL SERVICE’S BORROWING LIMIT
Unlike private companies, the Postal Service cannot access traditional lines of credit, so it needs Congressional action. The current borrowing limit is $15 billion, which was set in 1992 and never adjusted for inflation. USPS proposes that Congress raise their borrowing limit to be between $30-40 billion.
2. ALLOW USPS TO BETTER INVEST RETIREMENT FUNDS
Currently, the Postal Service’s retiree health and pension funds (CSRS and FERS) can only be invested in Treasury securities. These securities are low yield, meaning they don’t make much money. USPS proposes that Congress allow them to diversify their investments, much like the TSP, to increase returns.
3. CORRECT THE MISALLOCATION OF PENSION LIABILITIES
Independent audits have found that for over 50 years, the USPS has overpaid pension obligations that properly belong to the federal government, costing USPS more than $90 billion. USPS proposes that the White House direct OPM to fairly reallocate its CSRS pension obligations. It is important to note that making this change would not impact CSRS or FERS retiree benefits at all.
