House passes sweeping bipartisan USPS overhaul bill

The House on Tuesday passed a sweeping bipartisan bill that would overhaul the US Postal Service's finances and allow the agency to modernize its service.

The Postal Service Reform Act -- which cleared the House by 342-92 --  would require retired postal employees to enroll in Medicare when eligible, while dropping a previous mandate that forced the agency to cover its health care costs years in advance. Those two measures would save the USPS nearly $50 billion over the next decade, according to the House Oversight Committee.

The bill now heads...