WASHINGTON – Senate Governmental Affairs Committee Chairman Fred Thompson (R-TN) issued the following statement today in response to the United States Postal Service (USPS) Board of Governors’ vote to modify the April rate schedule decision of the Postal Rate Commission:

"I intend to question the Board about this action at our Governmental Affairs Committee hearing next Tuesday to examine the true state of the Postal Service's finances. They will be asked to justify these new rates and we will have the General Accounting Office give us its own analysis of the Postal Service's financial situation."

The Governmental Affairs Committee, in conjunction with its Subcommittee on International Security, Proliferation, and Federal Services, will hold a public hearing regarding the financial outlook of the United States Postal Service on Tuesday, May 15, 2001.

Witnesses will include Postmaster General William Henderson, Board of Governors Chairman Robert Rider, Comptroller General David Walker and Postal Rate Commission Vice Chairman George Omas.