With Postal Service on 'Verge of Collapse' 630,000 Jobs at Risk,Trump Slammed for Refusing to Act [View all]

[BeckyDem]

"We've pleaded with the White House to help. Donald Trump personally directed his staff not to do so."


by

Jake Johnson, staff writer


The U.S. Postal Service warned Congress this week that it will completely "run out of cash" in the next several months without immediate action from the White House and Congress, but—with as many as 630,000 jobs at risk—President Donald Trump and Republican lawmakers have refused to commit to rescuing the prized government institution as it falters amid the coronavirus pandemic.

Postmaster General Megan Brennan told the House Oversight and Reform Committee in a briefing on Thursday that the USPS will need access to a total of $75 billion in cash, grants, and loans in order to avert financial ruin by the fall.

"We are at a critical juncture in the life of the Postal Service. At a time when America needs the Postal Service more than ever, the reason we are so needed is having a devastating effect on our business," said Brennan, referring to the coronavirus outbreak, which has led to a sharp decline in mail volume.

As Government Executive reported, "House Democrats pushed for a $25 billion cash infusion for the Postal Service as part of the last stimulus package, but Senate negotiators ultimately opted to include only a $10 billion line of credit. Postal management has said that amount would be insufficient for preventing fiscal calamity this year."

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