USPS Has Nearly Exhausted the $10B Congress Awarded It for COVID-19 Relief

The U.S. Postal Service has spent nearly all of the $10 billion Congress allocated to it last year to offset losses caused by the COVID-19 pandemic, placing the mailing agency in an improved financial position after recently cautioning it may have to cease its normal operations.

USPS has exhausted $8.6 billion from the appropriation, which has come in the form of reimbursements of expenses from the Treasury Department. Congress first authorized the funds in March 2020 as a loan included in the Coronavirus Aid, Relief and Economic Security (CARES) Act, leading to a drawn out negotiation with the Trump administration over the terms for accessing the money. Congress in December passed another COVID-19 relief measure that negated the Postal Service’s obligation to repay the money.

 


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Yes, 9.99 billion went for management bonuses. Need more money, quick!