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U.S. Postal Service Reaches Agreement with Treasury on $10 Billion CARES Act Lending Authority

Posted by Frank Augustosky on 07/29/20

July 29, 2020

While the agreement that was announced today between the United States Postal Service and Treasury Secretary Mnuchin regarding the addition $10 Billion in borrowing authority that was contained in the CARES Act is a positive development, this in no way solves the need to address the financial situation the United States Postal Service (USPS) finds itself in. There is no question, Congress must continue its work to provide the emergency relief, as a result of the COVID-19 pandemic, that the leadership of the USPS has continually said is necessary. As an organization, the United Postmasters and Managers of America (UPMA) will continue to ensure the voices of active and retired Postmasters and managers are heard with the members of Congress who are essential to ensure the immediate and long term needs of the USPS are addressed.

Treasury Agreement statement July 29 2020 final

Daniel M. Heins
UPMA National President