A new coronavirus aid package released by House Democrats includes $25 billion for the cash-strapped U.S. Postal Service.
The Associated Pressaid package released Tuesday by House Democrats includes $25 billion for the cash-strapped U.S. Postal Service, which could run out of money by the end of September without a taxpayer bailout. Mail volume is down by more than 30% from last year because of the pandemic, and the Postal Service says losses will increase by more than $22 billion over the next 18 months.
Rep. Gerry Connolly, D-Va., said Trump’s refusal to approve the loan without huge rate hikes was misguided. “The sudden drop in mail volumes, our most profitable revenue stream, is steep and may never fully recover,″ Postmaster General Megan Brennan told Congress last month. Polls show that Americans overwhelmingly support federal government funding to help the Postal Service survive the pandemic.
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