Bipartisan Senate Bill Would Provide $25 Billion To Postal ServiceJuly 6, 2020
A bipartisan group of senators is pushing for emergency funding for the financially-strapped U.S. Postal Service, which has cautioned the economic impact of the novel coronavirus pandemic has deeply exacerbated its ongoing fiscal crisis.
The Postal Service Emergency Assistance Act (S. 4174), introduced by Sen. Susan Collins, R-Maine, and cosponsored by Sens. Diane Fienstein, D-Calif., Steve Daines, R-Mt., Doug Jones, D-Ala., and Jon Tester, D-Mt., would provide $25 billion to the mailing agency on the condition the funds be used to cover COVID-19 related losses or expenses. It would require USPS to develop a “plan to ensure the long-term solvency” of the agency and ensure it has immediate access to the $10 billion line of credit with the U.S. Treasury that Congress authorized in April. Treasury Secretary Steve Mnuchin has sought to place conditions on the loan, leading to the resignation of USPS Board of Governors member David Williams.
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