The Postal Service itself just made this clear. In a May 8 legal filing about its finances the Postal Service says it “expects that it will have sufficient liquidity to continue operating through at least May 2021.” Also, during a public webcast about its finances the same day, the Postal Service’s most senior officials gave no indication of a shutdown by October.
A big reason is the CARES Act increased the Postal Service’s borrowing authority by $10 billion. That gave the Postal Service $23 billion in available cash at the start of the pandemic. And while the mail business is hurting, the package business is up sharply.
Far from satisfied, House Democrats called for $25 billion in unrestricted assistance for the Postal Service in legislation introduced this week.