Summary: The Postal Service, citing higher costs beyond its control, is falling behind on plans to reach long-term financial stability. USPS on Tuesday reported a $6.5 billion net loss for fiscal 2023. Under its 10-year USPS Delivering for America (DFA) plan, the agency expected it could “break even,” and start to dig out from years of billion-dollar net losses by this point. Those financial challenges are expected to continue for the rest of this fiscal year. Postmaster General Louis DeJoy said USPS “will not reach break-even results in 2024.” USPS estimates it will end FY 2024 with a $6.3 billion net loss. Learn more about your ad choices. Visit megaphone.fm/adchoices
