Tuesday, February 8, 2022
Statement by NALC President Fredric Rolando on the USPS Fiscal Year 2022 Q1 Financial Report
The USPS financial report for the first quarter of Fiscal Year 2022 shows revenue that essentially mirrors last year's first quarter, with an increase in First Class mail revenue, demonstrating how much the American people and their businesses rely on the Postal Service. USPS had a highly successful holiday delivery period, continues to provide essential items so people can shelter safely at home, and now is delivering millions of Covid test kits to households. At the same time, the net loss cited in the report makes clear the need for postal reform to address the artificial red ink caused by the 2006 congressional mandate that the USPS--alone among all U.S. companies and agencies--pre-fund future retiree benefits.