US Postal Service may delay planned increase in rates

The U.S. Postal Service might defer an increase in postage rates until 2006 in light of a House measure that would change how it contributes to a pension fund for employees hired before 1984. The House is expected to pass on Tuesday a proposal that would allow the agency to lower the payments it makes to a worker retirement fund. If passed, the measure will reduce the Postal Service’s debt, free up extra funds and hold rates steady. Last week, the Senate passed a similar measure, which is backed by the White House.

Abstracted from: The Wall St Journal