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Story summary
- Postmaster General David Steiner will address Congress and say the U.S. Postal Service must increase borrowing to avoid financial collapse.
- USPS has reached its $15 billion borrowing limit and has reported net losses of $118 billion since 2007.
- Steiner outlined reforms, including cost-cutting measures such as reducing delivery days and raising stamp prices.
- The House Oversight Subcommittee will evaluate USPS reliability and its need for additional funding and reforms.
