April 03, 2003   SENATE APPROVES COLLINS’ LEGISLATION TO LOWER POSTAL SERVICE COSTS   WASHINGTON, D.C.—The Senate late Wednesday unanimously approved legislation authored by Senate Governmental Affairs Committee Chairman Susan Collins (R-ME) that will lower Postal Service costs and postpone further postal rate increases until at least 2006. “Postal rates have risen three times in the past two years,” Collins said. “Another increase – especially one that we know can be prevented – is just what our recovering economy does not need.” The bill, S. 380, the Postal Civil Service System Retirement Systems Funding Reform Act of 2003, will correct statutory requirements that have resulted in the Postal Service over-funding its retirement account by billions of dollars. Without this legislation, the Postal Service would over-pay its retirement account by $78 billion over the next 60 years. According to Post Master General Jack Potter, enactment of the bill will reduce the Postal Service’s debt by about $3 billion in fiscal year 2003 and will delay the need for additional postal rate increases until 2006 at the earliest. Without the legislation, Postal officials say they would need to increase prices again next year. “Holding down postal rates will give a significant boost to the $900-billion-a-year mailing industry without hurting current or future retirees,” Collins said. The legislation has received wide support in Congress and from the mailing industry, including the Postal Service, postal employee organizations, and more than 100 companies and organizations that employ 9 billion workers. The House is scheduled to consider an identical bill next week.   ###   Printable Version   « previous Press Release next Press Release »   1998 - 1999 - 2000 - 2001 - 2002 - 2003 - 2004 - 2005 - 2006 - 2007 April 2003 Press Releases   April 30 - Ridge to Testify Before Governmental Affairs Committee   April 30 - Collins Releases GAO Report Showing Slow Progress in the Nation's Smallpox Vaccination Program   April 30 - Collins Announces Maine to Receive $5.7 Million Homeland Security Grant Award Another $15.2 Million is Available   April 15 - Congress Approves Additional $20 Million For Port Security, But Collins Says More Is Needed   April 10 - Statement by Senator Collins on the Introduction of the "Sunshine in Iraq Reconstruction Contracting Act of 2003   April 9 - House Passes Collins' Postal Reform   April 9 - Collins Introduces Legislation to Increase Flexibility in Homeland Security Grants   April 8 - Senator Collins Begins Hearings to Streamline and Enhance Homeland Security Grant Programs   April 8 - Senator Collins Introduces Bill to Streamline Federal Homeland Security Grant Programs   April 7 - Senate Governmental Affairs Committee to Hold First in a Series of Homeland Security Hearings   April 3 current Press Release   April 3 - Bipartisan Amendment Calls for Explanations on Awarding of Iraqi Reconstruction Contracts   April 1 - Senator Collins to Co-Chair Congressional Port Security Caucus   April 1 - Senate Governmental Affairs Committee to Hold Nominations Hearing   April 1 - Governmental Affairs Committee to Hold Nominations Hearing
Committee on Homeland Security and Governmental Affairs 340 Dirksen Senate Office Building Washington, D.C. 20510