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Congress Unsure Whether to Toss Last Lifeline to Postal Service

Joe Raedle/Getty Images(WASHINGTON) -- Capitol Hill lawmakers only have a few weeks to decide whether to save the nearly bankrupt U.S. Postal Service.

Judging by some comments made Tuesday, the prospects don't look good for the post office as we know it.

There is talk about an $11 billion cash infusion so that the USPS could delay the close of processing centers and underperforming post offices, as well holding off suspending Saturday delivery.

In turn, the USPS would offer buyouts to 100,000 long-time employees, reduce various perks, including future retiree health benefits and raise the price of first-class postage to 50 cents.

Congress has until May 15 to make its decision, the deadline Postmaster General Patrick Donahoe gave before he starts mass closings and a possible end to six-day delivery service.

Sen. John McCain sounded like he was all ready to pull the plug during Tuesday's hearings.

The Arizona Republican said, "Instead of doing as some did when the Pony Express was replaced by the railroads and try to prop up a failing industry, let's find a graceful exit."

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