WASHINGTON, June 24 (UPI) -- A bill introduced by Rep. Darrell Issa, R-Calif., would provide greater federal regulation of the U.S. Postal Service.
Issa said regulation is needed to end postal deficits and prevent additional government support for the service, The Washington Post reported. His measure, introduced Thursday, would create a board modeled on the Financial Control Board in the District of Columbia that would have budget oversight and the power to negotiate directly with unions.
Issa, who chairs the House Oversight and Government Services Committee, says the bill would shave $6 billion a year from the USPS budget once it is fully implemented.
Postal officials said in a statement the service does not need more regulation: "Our financial instability is the result of dramatic loss in volumes, coupled with restrictions imposed by Congress that have prevented the Postal Service from adequately responding to those losses in a business-like fashion."
