Submitting OIG:
Report Description:
To reimburse the Postal Service for unpaid amounts for revenue forgone, Congress promised to pay the Postal Service $29 million a year from 1994 through 2035 without interest. Starting in FY 2011, the $29 million payments were reduced or skipped for 4 years. They have now resumed, but there is a risk that payments could stop again. If payments stop permanently, the Postal Service will have to declare a bad debt on its bottom line. One solution is to offset the remaining amount owed with interest, $1.6 billion, against the Postal Service’s current debt to the Treasury.
Date Issued:
Monday, February 22, 2016
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
RARC-WP-16-004
Location(s):
United States
Type of Report:
Other
View Document:
Attachment | Size |
---|---|
RARC-WP-16-004_0.pdf | 1.48 MB |
Additional Details Link: