Although the Postal Service "receives no tax dollars for operating
expenses and relies on the sale of postage, products and services to
fund its operations," as stated on its website, it is governed by
Congress, and had been hoping members would pass legislation to help
lessen its financial burdens.
"It's unclear at the moment how the Postal Service has the authority
to quit delivering letters on Saturdays. Previously, they've said they
need Congress to change current law to do so," reports CNN Money.
Two CNN sources confirmed the plan to stop Saturday delivery
of letters and other first class mail starting Aug. 1. Packages would
still be delivered on Saturdays.
More details about the plan should be revealed later this morning
when the Board of Governors of the U.S. Postal Service meets in open
session at Postal Service headquarters in Washington, DC. Following the
meeting, Postmaster General and CEO Patrick Donahoe and Chief Financial
Officer Joe Corbett will host a telephone/web conference call at 11:30
a.m. to discuss the financial results in more detail.
Various news reports say the Postal Service needs tens of billions of
dollars to be saved. In July 2011, the Postal Service announced the
closure of 3,600 post offices across the country in an effort to save
money. (Its location in Garden City was not affected).