The U.S. Postal Service will run out of cash within a year without help from Congress.
Congress will need to lift a decades-old cap to allow the agency to borrow more money, the new postmaster general warned in an interview, the Associated Press reported.
“How long are employees going to work and vendors going to show up if we’re not paying them?” Postmaster General David Steiner said Wednesday.
The postmaster general is scheduled to testify before Congress later this month about the postal service’s financial struggles. The $15 billion cap on borrowing has been in place since 1990.
