Four months after Congress approved a $10 billion loan for the Postal Service under the CARES Act, the Treasury Department and USPS leadership have struck a deal on the terms of that loan.
According to the terms of the loan, released by top Democrats in the House and Senate, USPS has agreed to give Treasury access to its biggest negotiated service agreements with industry partners.
The Postal Service will have access to the loan to fund operating expenses until March 27, 2022, but Treasury won’t advance any of the funds if USPS has a cash balance of more than $8 billion.
In addition, USPS has agreed to give Treasury monthly reports on its cash flow and year-over-year changes in volume for its major lines of business, as well as changes in revenue and expenses.
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4 comments:
OMG! Stop wasting my taxes. Let them and others fail! ...smh
Make sure Management receives NO pay raises or NO INCREASED benefits
They are already OVERPAID !!!! & we can't even get $600.00 !!!!
That is Nancy Pelosi's little pork project. That way she can shake that finger at Mgmt. and they will lose as many ballot boxes that they want to disappear because they are gutless wonders after $$$$$.
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