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$34B Bailout for USPS?

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  • Description

    It's losing up to $25M a day

  • Duration 2:53
  • Date

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Should senate approving a -- for the post service.

Postal Service that puts taxpayers on the hook.

For 34 billion dollars that was there are better way to do this after all it is all your money -- William -- -- is on that.

Who live in LA good morning William.

Well -- what makes this story different is here's a federal agency that actually wants to save taxpayer money -- -- email and electronic banking the post office lost three billion dollars.

In three months.

So next week week from today the agency wants to Begin closing post offices to stop -- reading.

But some in congress won't let.

Gotta get the -- Lot's changed since horses move the mail.

Today it increasingly -- like this you've got mail and because of it the US Postal Service is broke if the post office what was a business.

It would be in bankruptcy.

It's in -- to the Postal Service loses 25 million dollars -- today.

Contrary to conventional wisdom however it does not receive a federal subsidies that may be changing.

Today we took a -- very important first step.

-- say an American institution.

And.

The US senate passed a 34 billion dollar bailout bill last month that actually forces the postmaster.

To accept taxpayer money for jobs he doesn't need and buildings he doesn't want.

The bill prohibits the service from closing 250 mail processing senators and 3000 mostly rural post offices.

Republicans like that.

The subsidy also fully funds the union retirement fund Democrats like that who's not happy congressman like Republican Dennis Ross who say taxpayers should not be forced.

To sustain a business model that started going out of business long ago what we need to do to make sure that.

We cut something that needs to be cut if we don't cut it are we willing to borrow more money from China.

To fund it.

So how much would this senate bill cost -- log on to foxnews.com.

-- your money.

And check out the taxpayer calculators so.

If you make between 3050000 dollars that 34 billion dollar bailout will cost about 55 bucks if you're -- 100 to 200000.

Your share about 400 dollars and if you're in the top tax bracket.

More than four.

Thousand dollars.

Democrats in the house generally want to pass -- senate bill.

Whereas most Republicans want to allow the agency to close buildings stop Saturday layoff Texas workers and -- built a postal trucks to make money.

That is your fight did I hear you say today the post office loses 25 million a day.

That's exactly what you heard that's remarkable at a lot of stand William while we in my good arguments have different to their parents all your money from --

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