The USPS Will Stop Saturday Delivery of First Class Mail By August 1

After losing $16 billion last year, the postmaster general is announcing that the USPS will likely stop Saturday delivery of first-class mail by August 1. 

Senator Tom Coburn (R-Okla.) says the move will save the struggling postal service $2 billion a year. "It's a proper business decision and (in the) long run, good for the Postal Service and good for Americans." The Postal Service has lost $41 billion dollars over the past six years as more and more Americans turned to private shippers, email, and online banking.

Meanwhile, Coburn and Representative Darrell Issa (R-Calif.), the two top Republicans on the House and Senate committees that oversee the Postal Service, will send a letter to House and Senate leaders asking them to support the elimination of Saturday service and change the law that has prevented the USPS from doing this in the past.