Postal Service Halts Construction Plans
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The Postal Service is freezing new construction and leasing for hundreds of planned projects across the country, saying the agency is facing serious financial losses.
The announcement was accompanied by a warning from the postal governing board that universal service to every home every day could be in danger without changes to the laws that regulate operations.
More than 800 planned projects in all states will be affected by the freeze. Postal officials did not provide a dollar estimate for the affected work.
With rising costs, postal officials now say they face a $2-billion to $3-billion loss this fiscal year.
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