The Postal Service is in dire need. Trump wants to block the loan that could save them.
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The Washington Post
4.1 • 4.6K Ratings
🗓️ 30 April 2020
⏱️ 36 minutes
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| 0:00.0 | The novel coronavirus pandemic has left a tremendous number of businesses across the country |
| 0:07.7 | without the revenue they're used to. |
| 0:10.1 | For the United States Postal Service, its losses in revenue both from the pandemic and long |
| 0:14.7 | pre-dating it present a different kind of challenge. |
| 0:18.0 | See, the Postal Service isn't a private company. |
| 0:21.1 | It's a federal agency, so the ways to solve its financial problems are mercier. |
| 0:26.3 | While Congress has stepped in to include a $10 billion loan to the Postal Service in |
| 0:31.2 | the Cares Act relief package, the service has not yet seen that money. |
| 0:36.5 | Last week, President Trump threatened to block that $10 billion loan unless the Postal |
| 0:41.0 | Service dramatically raised shipping prices on online retailers. |
| 0:45.4 | Trump has urged the Postal Service to raise prices since long before the coronavirus began. |
| 0:50.7 | His latest move, though, the threat to block the agency's loan reflects an unprecedented |
| 0:55.6 | attempt to seize control of this agency, notably America's most popular government agency, |
| 1:01.2 | according to the Pew Research Center. |
| 1:03.1 | Meanwhile, time is running out. |
| 1:04.8 | The Postal Service projects it could lose $23 billion over the next 18 months. |
| 1:10.9 | So can the President withhold money from a federal agency until it complies with his |
| 1:15.8 | requests? |
| 1:16.8 | And how are things different for the Postal Service that's tasked with operating from |
| 1:20.4 | its own revenue and not from federal dollars? |
| 1:23.4 | Plus, as we head toward the November election in an era of social distancing, what might |
| 1:28.0 | financial strain at the Postal Service mean for America's access to mail-in ballots? |
... |
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