U.S. Postal Service narrows loss in latest fiscal year

Reuters: The U.S. Postal Service reported on Friday that it managed to slow the hemorrhaging of cash in its latest fiscal year, but said a legislative fix is still needed to put it on a sound financial footing. The mail agency, which does not rely on taxpayer funds, said its loss for the 2013 fiscal year narrowed to $5 billion from nearly $16 billion in the prior year.


Extension of benefits for jobless is set to end

The New York Times: Unless Congress acts, during the last week of December an estimated 1.3 million people will lose access to an emergency program providing them with additional weeks of jobless benefits. A further 850,000 will be denied benefits in the first quarter of 2014. Congressional Democrats and the White House are pushing once again to extend the period covered by the unemployment insurance program, but lawmakers say the chances of an extension before Congress adjourns in two weeks are slim.


'Green' commuter tax break may be slashed

CNNMoney: A popular tax break for commuters who use mass transit may be cut nearly in half if Congress doesn't step in by the end of the year. Right now, millions of people who take mass transit to work, as well as those who drive and pay to park, can reduce their pre-tax income by up to $245 a month in commuting and parking expenses. But starting January 1, mass transit and van pool riders will only be able to take a total of $130 off their pre-tax income for commuting costs, while drivers will be able to write off $250 for parking.