Postal Service to Receive $10 Billion Relief Loan

USPS remains “on unstable path,” Postmaster General says.

On Wednesday, the U.S. Treasury Department announced that it has reached an agreement to lend up to $10 billion to the United States Postal Service under a provision of the coronavirus relief package that Congress passed in March.

The CARES Act relief package authorizes the Postal Service to borrow directly from Treasury if they find it necessary to meet operating expenses.

Postmaster General DeJoy says they don’t currently need the money, but that USPS remains on an ”unsustainable path” and that the funding “will delay the approaching liquidity crisis.”

As the Lord Leads, Pray with Us…

  • For Postmaster General DeJoy and other administrators of the U.S. Postal Service as they face reduced revenue without a reduction in service.
  • For postal workers who face uncertain futures at the Postal Service.

Sources: Wall Street Journal, Washington Examiner


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