The Postal Service plans to close thousands of mostly rural post offices and eliminate about half its mail-processing plants.This plan would slow mail delivery, eliminate Saturday service and — in the middle of a severe recession — cut some 220,000 jobs. If implemented, it would have a devastating impact on rural America, small businesses, veterans, the elderly and our entire economy.

The issue is not whether the Postal Service should change or whether we should continue the status quo. As a result of the digital age and the decline of first-class mail, there is no question that the Postal Service must change and develop a new business model.

Late last year, a number of us in the Senate helped to get the postmaster general to agree to a five-month moratorium on his plans to close or consolidate rural post offices and processing centers. The moratorium lasts until May 15. Now it is time for Congress to act. We must pass a comprehensive plan to allow the Postal Service to succeed, protect rural communities and preserve the prompt and reliable delivery of mail.

I have been working with a large and growing group of senators to come up with a plan. We believe the Postal Service in the short term should be released from an onerous and unprecedented burden to pre-fund 75 years of future retiree health benefits over a 10-year period. With $44 billion now in the fund, the Postal Service inspector general has said that program is already stronger than any other equivalent government or private-sector fund in the country. There already is more than enough in the account to meet all obligations to retirees. The Postal Service should also be allowed to recover more than $13 billion in overpayments it has made to its pension plans.