WASHINGTON, D.C. — U.S. Senator Kirsten Gillibrand is calling on Congress to strengthen the United States Postal Service, re-establish postal banking to provide financial security to millions of Americans and reinvigorate voting rights through the Postal Banking Act.

The Postal Banking Act would establish essential banking services to low-income and rural communities, create $9 billion in revenue for the Postal Service and create access to vote by mail.

“The Postal Service is an American institution that serves families in every corner of our country and it’s shameful, though not surprising, that the president is willing to let it go bankrupt in favor of privatization,” Gillibrand said. “The Postal Service is in desperate need of reinforcement, and providing postal banking for the nearly 10 million American households who lack access to basic banking services is the first step. The Postal Banking Act would not only revitalize the agency, but it would also strengthen our voting rights. This would make a huge difference for families throughout New York, and I will keep fighting as hard as I can to get this important legislation passed into law.”

Facing decreasing revenue caused by the coronavirus pandemic and federal policy that requires the agency to pre-fund its pension and health care obligations 75 years in advance, the viability of the United States Postal Service has become threatened, Gillibrand said. The Postal Service employs 600,000 workers, including nearly 100,000 veterans, and millions of Americans depend on it to deliver their paychecks, prescriptions, and their votes.

The Postal Banking Act would strengthen the Postal Service by establishing a nonprofit bank offering low-cost checking and savings accounts, ATMs, mobile banking and low-interest loans. According to a report from the USPS Inspector General, the proposal would create $9 billion in revenue for the Postal Service each year.