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Tags: treasury | postal service | stimulus loan

Treasury Mulls $10B Stimulus Loan to Postal Service

us postal service trucks in washington dc
U.S. Postal Service trucks in Washington, D.C. (SAUL LOEB/AFP via Getty Images)

Friday, 24 April 2020 05:51 AM

The Treasury Department is mulling using a potential $10 billion emergency coronavirus loan to the U.S. Postal Service to force changes in how it does business, including what it charges for packages, The Washington Post reported on Thursday citing two people familiar with the matter.

The Postal Service has said that it may not be able to continue service past September without help, and Treasury has been authorized to lend it up to $10 billion as part of a $2 trillion stimulus package.

Neither the Treasury Department nor the Postal Service had any immediate comment on the newspaper's report.

The Washington Post reported that Treasury Department officials have told top Postal Service officials that the loan could be used to urge changes in how it manages its finances, including what it charges to deliver packages. Treasury Secretary Steven Mnuchin must approve the loan.

President Donald Trump has long accused the post office of charging too little for packages, saying that deliveries for Amazon cost the service money.

The Postal Service has not officially requested the funds, the Post reported.

© 2022 Thomson/Reuters. All rights reserved.


Newsfront
The Treasury Department is mulling using a potential $10 billion emergency coronavirus loan to the U.S. Postal Service to force changes in how it does business, including what it charges for packages.
treasury, postal service, stimulus loan
179
2020-51-24
Friday, 24 April 2020 05:51 AM
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