U.S. Postmaster General Megan Brennan told House Oversight Committee members Thursday that the postal service will “run out of cash” by September, unless the government provides $75 billion in aid to make up for devastating pandemic-related operating losses. The $2 trillion stimulus package signed by President Trump last month authorized a $10 billion loan — but no direct grants — to the USPS. We’ll talk about what it will take to rescue the postal service, and why President Trump opposes emergency aid.
Pandemic Pushes U.S. Postal Service Toward Collapse
U.S. Postmaster General Megan Brennan told House Oversight Committee members Thursday that the postal service will "run out of cash" by September, unless the government provides $75 billion in aid to make up for devastating pandemic-related operating losses. The $2 trillion stimulus package signed by President Trump last month authorized a $10 billion loan -- but no direct grants -- to the USPS. We'll talk about what it will take to rescue the postal service, and why President Trump opposes emergency aid.
24:19
SANTA MONICA, CALIFORNIA: A U.S. Postal Service (USPS) worker wears a mask and gloves amidst the coronavirus pandemic on April 13, 2020 in Santa Monica, California. The US Postal Service (USPS) is losing around $2 billion per month due to a loss of mail marketing as the spread of COVID-19 continues. (Mario Tama/Getty Images)
Guests:
Matt Yglesias, co-founder and senior correspondent, Vox; host of "The Weeds" podcast