March 18 (UPI) -- Postmaster General David Steiner told Congress that the U.S. Postal Service would be out of money in less than a year if changes aren't made to boost revenue.
During a hearing Tuesday, Steiner and members of the House Oversight Subcommittee on Government Operations appeared divided on how best to avoid a full stoppage in mail service in 12 months' time.
Steiner asked lawmakers to allow him to borrow more money to cover costs as well as to increase the price of a U.S. first class stamp from 78 cents to 95 cents. He said the cost to mail a single letter in the United States is the lowest in the industrialized world.
"Compare it to France at almost $3 and England at $2.50, and the longest distance those letters have to travel is about 600 miles smaller than the state of Texas," he told lawmakers.
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