NEITHER RAIN...

White House Rejects Postal Service’s Bailout Request

USPS is near bankruptcy, but Trump and Mnuchin said they wouldn’t help.

President Trump denied the United States Postal Service’s urgent request for a bailout, The Washington Post reports. The agency has long faced financial shortfalls, which the coronavirus crisis has only worsened, but Trump threatened to veto the entire $2 trillion Coronavirus Aid, Relief, and Economic Security Act if the bill directed any funds to the postal service, according to the Post. In justifying his refusal, Trump repeated the claim that USPS should simply raise the rates it charges Amazon and other e-commerce companies, according to the Post. Authors of the bill had originally allotted $13 billion for the postal service, but Treasury Secretary Steven Mnuchin reportedly told lawmakers, “You can have a loan, or you can have nothing at all,” so they decided to include a $10 billion loan to USPS in the bill.