What’s in the Coronavirus Bill for the USPS? Not much…

From the Wall Street Journal:

The financially strained U.S. Postal Service is getting a $10 billion Treasury loan to help the mail carrier during the pandemic. That should be welcome news for Amazon.com Inc., United Parcel Service Inc. and, to a lesser extent, FedEx Corp., which rely on postal workers for last-mile delivery in certain places.

The Postal Service is only allowed by law to raise its net debt by $3 billion a year, so the bill loosens that restriction. But it does come with some strings attached.

Mainly, the Postal Service can only use the financing for operating expenses and not to pay down outstanding debt. The bill also requires the Postal Service to prioritize medical shipments and allows temporary delivery points to protect workers and recipients of mail. 

—Paul Ziobro

Source: What’s in the $2 Trillion Senate Coronavirus Bill – WSJ