H.R. 2017 is a Continuing Resolution that funds the government through October 4. It contains a deferment, until October 4 (next Tuesday), of the Postal Service's Retiree Health Benefit (RHB) prepayment of $5.5 billion, which was originally due the end of today (the end of our fiscal year). Early next week the House is expected to approve H.R. 2608, a longer Continuing Resolution, which contains a deferment of the RHB prepayment through November 18 of this year. The Senate has already passed both of these bills.
This means we are not, for now, defaulting on the RHB prepayment. As you know, a default on this payment would have had no effect on our operations. But to be clear, there continues to be an urgent need to enact comprehensive, long-term legislation to provide the Postal Service with a more flexible business model to respond to a changing marketplace and meet our customers' evolving mailing and shipping needs.