USPS announcements or government records

Trump Eyes Privatization of USPS Amid Over $100 Billion Losses and $9.5 Billion FY2024 Loss

Dec 16, 2024, 04:22 PM

President-elect Donald Trump is reportedly considering privatizing the United States Postal Service (USPS) in response to its significant financial losses. The USPS has lost over $100 billion since 2007, with a net loss of $9.5 billion reported for the fiscal year ending September 30, 2024, which is an increase from the previous year's loss of $6.5 billion. Trump's interest in privatization aligns with ongoing discussions about reforming the postal service to address its financial challenges. He has indicated that this idea is not the worst he has heard and that his team is actively exploring options. The move could have implications for service reliability, particularly in rural areas that rely heavily on USPS for mail delivery. Trump is expected to take office on January 20, 2025, and has been in talks with potential cabinet members about this initiative, including Howard Lutnick for Commerce Secretary. The privatization of USPS has sparked debate regarding the potential impact on service quality and costs for consumers, especially in less populated regions.