Is the post office funded by the federal government?
Mail is protected by more than 200 federal laws enforced by the Postal Inspection Service, one of the nation’s oldest law enforcement agencies.
1 Zero tax dollars used.
The Postal Service receives NO tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations..
Is the USPS in debt?
USPS has lost $69 billion over the past 11 fiscal years—including $3.9 billion in fiscal year 2018. USPS’s total unfunded liabilities and debt ($143 billion at the end of fiscal year 2018) have grown to double its annual revenue.
How is the USPS doing financially 2020?
Operating revenue was $73.1 billion for 2020, an increase of nearly $2.0 billion compared to the prior year, driven by an increase in Shipping and Packages revenue of $5.8 billion, or 25.3 percent. … Package volume grew by nearly 1.2 billion pieces, or 18.8 percent, compared to last year due to the surge in e-commerce.
Is the post office supposed to make money?
Collectively, they’re nearly untenable. Remember, the USPS does NOT receive and revenue from the American taxpayer, their only source of revenue is for products and services! … In fact, the USPS delivers packages for UPS and FedEx in geographic areas UPS/FedEx consider unprofitable.
When did the USPS start losing money?
When Postal Service Losses Began Although the Postal Service lost money in the early part of the decade, in 2001 and 2003, the most significant losses came after the passage of a 2006 law requiring the agency to refund retiree health beneﬁts.
Why is USPS losing money?
Here’s why the USPS is losing money. There are several key reasons that the USPS is hemorrhaging money. The first one that comes to mind is — you guessed it — the coronavirus pandemic. … As of May 2020, 5,000 USPS employees were reportedly subject to quarantine, and 60 had passed because of COVID-19.