Usps Treasury Agreement

April 14, 2021

“I`m a little surprised that a condition is absolutely necessary,” said John McHugh, chairman of the Package Coalition interest group and former secretary of the army. “The USPS itself has already engaged external consultants to examine these issues to determine whether they are cost-effective and price-equitable. If there is nothing else, if Treasury entered what up to that time was absolutely proprietary information only between the USPS and its client. You could say that this is just one more step to make the Minister of Finance the de facto chief of the post. WASHINGTON – Today, the U.S. Treasury announced that it has reached an agreement with the U.S. Postal Service (USPS) on the material terms of a $10 billion loan to the USPS under Section 6001 of the Coronavirus Aid, Relief, and Economic Security Act (CARES). The loan is documented in an agreement to be developed and executed by the Ministry of Finance and the USPS. Subject to confidentiality restrictions, the postal service will provide cash copies of its 10 largest “negotiated service agreements” or contracts with large-scale third parties such as Amazon, FedEx and UPS and will receive a crucial cash injection that postal officials say will keep the debt agency for at least another year. , according to a copy of the credit report received by The Washington Post. In the coming weeks, we will be in common. The U.S. Postal Service (USPS) has reached an “agreement in principle” with the U.S.

Treasury for a $10 billion loan, which the agency needs to survive a sharp drop in mail volumes and shocking financial losses. Supporters of the postal service said Wednesday that they feared that credit conditions, which require USPS to disclose the contents of service agreements, would open the door to high package rates. The Ministry of Finance had already achieved most of its objectives prior to the agreement. In June, the Postal Service Board installed a new Postmaster general, Louis DeJoy, who was a major Trump booster and GOP fundraiser.

Usps Treasury Agreement · April 14, 2021 · 2:26 am
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