Wednesday, December 8, 2021
News for Retirees


Biden to appoint 2 for U.S. Postal Board, changing Bloom

Share this…FacebookPinterestTwitterLinkedin By David Shepardson WASHINGTON (Reuters) -President Joe Biden is nominating two former authorities officers to serve on the…

By Staff , in Investments , at November 20, 2021



By David Shepardson

WASHINGTON (Reuters) -President Joe Biden is nominating two former authorities officers to serve on the U.S. Postal Service (USPS) Board of Governors, changing the present chairman, Ron Bloom, the White Home confirmed on Friday.

Biden introduced he intends to appoint Daniel Tangherlini, who was chief monetary officer on the U.S. Treasury Division beneath President Barack Obama and held different authorities positions.

He may even nominate Derek Kan, an government at startup Deliverr and a former deputy director of the Workplace of Administration and Price range and senior Transportation Division official in the course of the Trump administration.

Reuters first reported the nominations.

Bloom has drawn anger from some Democrats in Congress over his assist for a plan from Postmaster Basic Louis DeJoy launched this 12 months to restructure USPS operations in hopes of lowering anticipated purple ink over a decade.

The board final week voted to re-elect Bloom as chairman, though the White Home had not determined whether or not to renominate him.

Bloom didn’t remark Friday.

Bloom will likely be pressured to depart the board subsequent month. Biden can be changing Governor John Barger.

Home Oversight and Authorities Reform Committee Chairwoman Carolyn Maloney mentioned beneath DeJoy USPS “misplaced concentrate on its core mission” and hoped the board “will start to carry the Postmaster Basic accountable for the harm that has been performed to the Postal Service’s operations and credibility.”

Many Democrats have urged the Postal Board to fireside DeJoy, a supporter of Trump named USPS head final 12 months who got here beneath criticism for modifications to election mail deliveries in 2020.

White Home spokeswoman Jen Psaki mentioned the administration “continues to be deeply troubled” about DeJoy’s “potential monetary conflicts” and takes “critical challenge with the job he is doing operating the Postal Service.”

Some Democrats have raised questions on DeJoy’s investments in USPS contractors and rivals.

She famous Biden can’t hearth DeJoy.

A USPS spokesman pointed to feedback from USPS’s inspector normal in February that mentioned DeJoy had “divested appropriately” from USPS contractor XPO Logistics, a former DeJoy employer.

The board can’t have greater than 5 Democrats and the brand new nominations should not anticipated to end in a board majority keen to oust DeJoy, officers mentioned.

In September, the USPS’s revised service requirements took impact, slowing some first-class mail deliveries.

Current one- to three-day service requirements have been revised to at least one to 5 days, affecting about 40% of first-class mail. USPS has additionally not too long ago hiked costs.

DeJoy, who had warned that USPS with out reform is “on a demise spiral,” in March proposed chopping $160 billion in predicted losses over the subsequent decade with modifications in service requirements a key half. The USPS has struggled with poor supply efficiency over the previous 12 months, going through an enormous soar in packages and staffing points attributable to COVID-19.

The Postal Service has reported web losses of greater than $90 billion since 2007. One purpose is 2006 laws mandating it pre-fund greater than $120 billion in retiree healthcare and pension liabilities, a requirement not shared by different companies, which labor unions have referred to as unfair.

Congress is contemplating a plan to supply the USPS with $46 billion in monetary aid over 10 years, together with eliminating the requirement that the service pre-fund retiree well being advantages for 75 years.

(Reporting by David Shepardson; modifying by Jonathan Oatis and David Gregorio)



Source link

Skip to content