U.S. Rep. Sam Graves (R-MO) on Sept. 9 signed on as the lead original cosponsor of a bipartisan bill he also authored to address the nation’s rapidly rising postal rates.
“It’s time for the United States Postal Service [USPS] to live up to its promise to reliably deliver the mail six days a week at a reasonable price,” Rep. Graves said. “Congress has given them the tools to do it, now they just need to get the job done.”
Rep. Graves introduced the Ensuring Accurate Postal Rates Act, H.R. 8781, which is sponsored by U.S. Rep. Gerry Connolly (D-VA), to direct the Postal Regulatory Commission to review and modify market-dominant ratemaking system rules, according to the congressional record bill summary.
The ratemaking system rules resulted from the enactment of the USPS Fairness Act, which became law in April as part of the Postal Service Reform Act of 2022 and lifted the long-standing requirement that the USPS pre-fund retiree benefits. The change, along with a recent rise in package volumes, led USPS to announce a $59.7 billion net profit in the third-quarter of fiscal year 2022, according to a bill summary provided by Rep. Graves’ staff.
If enacted, H.R. 8781 would direct the Postal Regulatory Commission to reexamine its rate-setting system, which permits USPS to adjust rates to account for inflation, declining mail volume, and rising retiree costs, the summary says.
“The United States Postal Service just posted a $60 billion net profit last quarter and we just gave them $10 billion in COVID-relief funding,” said Rep. Graves. “The Postal Regulatory Commission needs to closely re-evaluate the agency’s continued authority to raise postage rates above inflation, particularly now that Congress has lifted the mandate that the Postal Service pre-fund retiree benefits.
“Not to mention millions of American families are struggling to make ends meet with the cost of living skyrocketing under President Biden’s leadership,” he added.
H.R. 8781 has been referred for consideration to the U.S. House Oversight and Reform Committee.