President Donald Trump has formed a new task force to examine the operations model of the U.S. Postal Service, in view of mounting financial losses.
Trump signed an executive order Thursday to form the panel, days after he blasted online retailer Amazon for making the USPS its “delivery boy.”
The order said a decline in first-class mail volume, coupled with legal mandates that force the USPS to incur substantial and inflexible costs, resulted in a deficit where revenues can no longer fund pension liabilities and retiree health obligations owed to current employees.
“The USPS is on an unsustainable financial path and must be restructured to prevent a taxpayer-funded bailout,” it states.