USPS Issues Statement Regarding Terms of the Loan Agreement Between the Postal Service and the Depar
July 30, 2020- USPS issues press release regarding the terms of the loan agreement between the Postal Service and the Department of Treasury regarding the $10 billion loan as provided within the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136). Part of the terms require the Postal Service to report to the Department of Treasury on aspects of the agency’s financial status. The press release also responds to an article in the Washington Post, found here, that concludes the terms of the loan will impact future pricing and administration.
Currently, there is bipartisan legislation within the Senate that would remove these term agreements.