Rep. Darrell Issa (R-CA), House Oversight and Government Reform Committee chairman, has proposed legislation relating to the U.S. Postal Service (USPS) that would eliminate Saturday delivery and close post offices. He discussed the bill along with his Committee's oversight of the federal loan guarantees program and the fallout from ATF’s “Fast & Furious” program this morning on C-SPAN's Washington Journal.
The USPS legislation creates a Postal Service Financial Responsibility and Management Assistance Authority which is designed to restructure the USPS and cut costs by ending Saturday delivery and increasing employees’ health insurance premiums. Additional savings would come from selling advertising on postal vehicles and facilities.
"The Postal Service lost $8.5 billion last year. It is going to lose, at least, $8.3 billion this year. And it is projected to lose $8.5 billion the year after that," Issa said in a statement. “Only serious cost-cutting structural reforms that reduce workforce costs and right size infrastructure can save the Postal Service and prevent a multi-billion taxpayer funded bailout.”
Chairman Issa's committee is looking into the Department of Energy’s loan guarantee to Solyndra Inc., a solar panel manufacturer that received a $535 million government loan but recently laid off 1,100 workers and filed for bankruptcy. He will discuss the investigation along with his expectations for the Oversight Committee's hearing this Friday on Solyndra.
Other topics included the Alcohol, Tobacco, Firearms and Explosives (ATF) program “Operation Fast and Furious," a government program intended to track weapons and Mexican drug cartels.