Obama's Plan To Save Postal Jobs Would Eliminate Saturday Mail Delivery

David Schepp
USPS avoid bankruptcy stopping Saturday delivery
USPS avoid bankruptcy stopping Saturday delivery

The U.S. Postal Service would eliminate Saturday delivery and postpone billions of dollars in payments to its retiree health-plan fund, should Congress approve an Obama administration plan to help the nation's mail carrier avoid bankruptcy.

The proposal, part of President Barack Obama's $3 trillion deficit reduction plan, would also allow the service to raise the price of a first class stamp to 46 cents from the current 44 cents without having to obtain regulatory approval.