A group of 137 House lawmakers sent a letter last week asking for Congressional leaders to provide a $25 billion bailout for the Postal Service due to the COVID-19 coronavirus pandemic.
The letter says that the emergency funding is necessary to help the Postal Service “to offset COVID-19 revenue losses and allow improved access to borrowing authority from the Department of the Treasury.”
It adds that without an emergency bailout, the Postal Service “could be forced to cease operations.” It notes that the agency has said it expects to lose $22 billion over the next 18 months.
The Postal Service has long been struggling financially, going on over a decade of losses totaling billions which were taking place before the coronavirus showed up. The agency recently told Congress it needs a $75 billion bailout to survive the economic downturn brought on by the coronavirus shutdowns.
A copy of the letter is included below.
