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Story summary
- The U.S. Postal Service will inform Congress that it may run out of cash within a year without urgent reforms.
- Postmaster General David Steiner will seek higher stamp prices, expanded borrowing, and changes to pension funding and workers' compensation.
- Cost-cutting options include delivering five days a week and closing small post offices.
- Since 2007, USPS has posted net losses of $118 billion, while first-class mail volumes declined.
