(CNN)– The U.S. Postal Service says it no longer faces the prospect of running out of cash within months.
Postal regulators told lawmakers a decision in April to temporarily suspend some payments into a retirement fund has significantly improved the agency’s finances.
It’s estimated that wi
ll free-up about two-and-a-half billion dollars this fiscal year, and could keep the postal service operating for several more years.
But regulators stressed the action is only a temporary fix.
The postal service continues to face long-term challenges from declining mail volume and rising costs.
Categories: News
Tags: Post Office, Postal Services, U.S. Postal Service, United States Postal Service, US POSTAL
...read more read less