After Months of Negotiations, Postal Service Reaches Agreement for $10B Loan From Treasury

Government Executive: The U.S. Postal Service has reached terms with the Treasury Department to access a $10 billion line of credit authorized by Congress in March, ending months of negotiations between the Trump administration and the cash-strapped mailing agency.

Lawmakers authorized the loan as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to assist USPS after the pandemic led to a drastic downturn in the agency’s business.

Read article