This week, postmaster general David Steiner testified before Congress highlighting major concerns about the United States Postal Service (USPS). Steiner said that USPS is at a “critical juncture” and underscored the “urgent need for greater operational and pricing flexibility” in order to maintain the service.
“We got here because of the drastic reduction in the use of mail,” Steiner explained. “From the historic peak volume of 213 billion pieces per year in 2006 to 109 billion pieces today, we have lost over 104 billion pieces per year in our system. For perspective, if all of that lost volume was paid at the current price of a stamp, which is 78 cents, that’s about 81 billion dollars. No company could weather that much revenue loss.”
Steiner continued, warning, “At our current rate, we’ll be out of cash in less than 12 months. So in about a year from now, the postal service would be unable to deliver the mail.”
The postmaster general also outlined a long list of issues negatively impacting USPS, which he called an “anchor” that is weighing the organization down. He cited overregulation, saying “our regulator ensures that we won’t make money or break even – out of fear of a non-existent mail monopoly”, along with a series of other constraints.
In an effort to solve some of the financial issues facing USPS, Steiner said the price of a first‑class stamp could rise to 90 to 95 cents, up from its current rate of 75 cents. He said the change alone would “would largely solve” the agency’s “controllable loss.”
The postmaster general also urged Congress to increase the organization’s borrowing power, saying “no private company is as limited in its credit access as the Postal Service, and certainly not one with our scope, operational complexity, and importance to the American public.” Steiner said the agency is committed to cost-saving ventures. It previously outlined a proposal for saving around $3 billion annually.
USPS has been reporting losses since 2007. In 2024, it incurred $9.5 billion in losses. Last the last fiscal year, the agency said it incurred net losses of $9 billion. And in the first quarter of 2026, it lost a reported $1.3 billion.
Last year, President Trump spoke about the postal service’s struggles, after previously dropping plans to privatize the agency. “Well, we want to have a post office that works well and doesn’t lose massive amounts of money, and we’re thinking about doing that, and it will be a form of a merger,” Trump said when asked if he wanted to make USPS part of the Commerce Department.
Trump continued, “It’ll remain the Postal Service, and I think it’ll operate a lot better than it has been over the years.”