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Postal Service loses $2.2B in 3 months as virus woes persist

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Posted at 3:30 PM, Aug 07, 2020
and last updated 2020-08-07 18:30:30-04

WASHINGTON (AP) — Financial losses are mounting at the U.S. Postal Service during the coronavirus pandemic.

The agency said Friday it lost $2.2 billion in the three months ending in June. Officials warn the losses could top $20 billion over two years.

Postmaster General Louis DeJoy calls the agency's financial position “dire.″ But he disputes reports his agency is slowing down mail and says it has “ample capacity to deliver all election mail securely and on time."

The Postal Service is seeking at least $10 billion to cover operating losses as well as changes to how it funds retiree health benefits.

Lawmakers want the Postal Service to reverse operational changes that are causing delivery delays.