Maybe because:
The Postal Accountability and Enhancement Act (PAEA) of 2006 (Public Law 109-435) was a major U.S. federal statute signed by President George W. Bush on December 20, 2006, that overhauled the United States Postal Service (USPS). It forced the USPS to pre-fund retiree health benefits 75 years in advance and created a restrictive rate cap based on the Consumer Price Index (CPI).
Key Aspects of the PAEA of 2006:
- Retiree Health Benefits Funding: The act mandated that the USPS pay roughly $5.6 billion to $5.8 billion annually for ten years into a newly established Postal Service Retiree Health Benefits Fund to pay for future retiree health care costs.
- Rate Regulation: It required the Postal Regulatory Commission (PRC) to create a new system for regulating rates, capping price increases for "market-dominant" products (like first-class mail) to no more than the rate of inflation (CPI-U).
- Product Classification: The Act split services into "market-dominant" (monopoly products) and "competitive" (packages, etc.) to prevent the USPS from using mail revenue to subsidize competitive shipping services.
- Regulatory Changes: It renamed the Postal Rate Commission to the Postal Regulatory Commission, giving it expanded oversight duties and subpoena power.
- Financial Impact: The stringent pre-funding requirement resulted in significant financial pressure on the USPS, causing massive operating losses in subsequent years, which critics argue created a manufactured financial crisis.
The PAEA was the first major legislative reform of the USPS since it was reorganized into an independent agency in 1970.