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