For generations, Americans have come to depend on door-to-door mail delivery. But under a proposal being considered today by the House of Representatives, that service could be virtually phased out over the next eight years.
The struggling U.S. Postal Service on Thursday reported an annual loss of a record $15.9 billion, capping a tumultuous year in which it was forced to default for the first time on billions in payments to avert bankruptcy.
The Senate has passed overhaul legislation that would allow the financially strapped U.S. Postal Service to avert immediate bankruptcy, giving it a cash infusion while delaying decisions on closing post offices and ending Saturday delivery.
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