US postal service will run out of money by February 2027, says agency chief

Postmaster general David Steiner has called for change to federal law that caps USPS’s borrowing at $15bn The US Postal Service will run out of funds within a year, unless lawmakers lift a cap on how much money the agency can borrow, according to the postmaster general. In an interview with the Associated Press, David Steiner warned that the postal service – which relies on stamps and service fees rather than tax dollars to deliver mail six days a week to every address in the country – would ...

By Maanvi Singh and agencies