(CNN)- [...] The Postal Service says that, if nothing is done, it faces $18 billion in losses by 2015. Lawmakers have been working on different plans for months, but all of them have controversial aspects and are stalled.
The U.S. Postal Service's plan would save about $20 billion over the next five years, although it needs Congress to act to achieve about $10 billion in savings.
Nearly all the ideas in the five-year plan have been proposed before, except for the big first-class stamp boost. Raising the price of the stamp to 50 cents from 45 cents now could yield $1 billion a year in new revenue, according to the plan.
Among previously offered proposals, home delivery would be cut to five days a week from six, and thousands of post offices and mail processing plants would be closed. The service would slow the delivery of first class mail by a day. Keep on reading...