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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump sets ultimatum for USPS to raise prices before approving $10B emergency loan
The Postal Service warns it will run out of cash by the end of the fiscal year, but President Donald Trump on Friday said the agency should raise its package and shipping rates by approximately four times before seeking more aid from Congres.
While the president has made this recommendation several times, this most recent instance came with an added wrinkle: Trump said his administration wont approve a $10 billion loan to USPS guaranteed under the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act unless the agency first agrees to take his advice.
If they dont raise the price, Im not signing anything, so theyll raise the price so that they become maybe even profitable, but so they lose much less money. And if they dont do it, Im not signing anything and Im not authorizing you to do anything, Trump said in a White House press conference alongside Treasury Secretary Steven Mnuchin.
Mnuchin said his team at Treasury is actively working with USPS officials in providing the $10 billion loan, but acknowledged some caveats.
Read more: https://federalnewsnetwork.com/agency-oversight/2020/04/trump-sets-ultimatum-for-usps-to-raise-prices-before-approving-10b-emergency-loan/
Cha
(296,848 posts)down today and he said he didn't know.
I wished him Good Luck and said we were all pulling for them!
Jake Stern
(3,145 posts)Americans have skated by for years with fairly cheap postage. The cost to send a domestic first class letter in Norway costs the equivalent of $1.67.
Raising the postage rate fourfold is way too far but I could see doubling their rates.
regnaD kciN
(26,044 posts)People who have to ship packages will just use UPS, FedEx, etc., instead...which is, of course, just what the Trumpublicans want.
delisen
(6,042 posts)That is one of many differences between our countries that affects affordability and quality of life.
Millions of us cannot afford basics anymore and. a 4x increase is far too damaging to families.
Any funds needed must be found elsewhere.
woodsprite
(11,904 posts)Itd piss Trump off and help the post office was their reasoning. I had said they should agree, then Biden could rescind the stipulation or lower it.
John Fante
(3,479 posts)He wants to bleed us dry to get back at Amazon. That's all this is.
Girard442
(6,065 posts)It should be obvious to anyone who isn't actually swigging Clorox from the jug that raising postal rates 4X will drop postal package traffic to zero.
regnaD kciN
(26,044 posts)thesquanderer
(11,972 posts)Still, USPS isn't losing money on servicing Amazon. And yes, quadrupling their price to Amazon will just send most of that business to UPS, etc.
John Fante
(3,479 posts)period of unprecedented economic hardship.
Team Joe must be pinching themselves.
dawg day
(7,947 posts)This all seems aimed at Bezos, only we will all pay.
Tom Rinaldo
(22,911 posts)Pushing for it to raise its prices is definitely not.