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USPS reports $1.5B quarterly loss

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The U.S. Postal Service posted a $1.5 billion loss in its fiscal third quarter.

First-class mail revenue dropped by 2.2 percent, or by another $134 million.

“The root cause of our financial instability is a flawed business model that is imposed by law,” said Postmaster General Megan Brennan. “We encourage Congress to engage in a broad public policy discussion and pass postal reform legislation.”

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