A new Senate plan emerged Wednesday to save the U.S. Postal Service from going belly up and keep Saturday delivery service for at least two years, but it also includes laying off 100,000 workers to balance its budget.

The proposal would keep the agency “from the brink of bankruptcy,” said Sen. Joe Lieberman, I-Conn. But it still contains a number of painful fixes for the 200-year-old institution that is more than $9 billion in debt. Keep reading →