A bipartisan group of lawmakers has introduced the Postal Service Emergency Assistance Act to provide USPS with up to $25 billion to cover revenue lost and operational expenses arising from the COVID-19 pandemic. The legislation has earned the support of postal unions, who have long expressed a need to fund the Postal Service during the pandemic.
Under the legislation introduced by Senators Susan Collins (R-ME) and Dianne Feinstein (D-CA), the Postal Service would receive the funding boost after certifying in its quarterly and annual reports to the Postal Regulatory Commission that the funds are needed to cover COVID-19-related losses or operational expenses. Senators Collins and Feinstein’s bill would also clarify the borrowing authority provided in the coronavirus stimulus legislation, the CARES Act, and require the Board of Governors to transmit to Congress a plan to ensure the long-term solvency of USPS.
According to a press release from the lawmakers, the bill would “provide USPS with up to $25 billion in emergency COVID-19 funding, while ensuring that these funds are used only for COVID-19-related losses and expenses.”