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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.
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