Trump reportedly warned Congress that he’d veto latest stimulus package if it has provisions for USPS bailout [Video]

WHAT YOU NEED TO KNOW:

• Trump allegedly threatened the lower house that he’d veto the recent stimulus bill if it has something assigned for the USPS.
• The U.S Postal services were reportedly losing revenue due to the current health crisis.
• The Postmaster General, on top of the $13 billion grant request, has asked for another $50 billion to cover losses due to the pandemic and for the USPS’ modernization drive as well. 

A recent report published by the Washington Post said President Donald Trump is to veto the latest version of the $2.2 trillion coronavirus stimulus package if it included a financial help to the United States Postal Service (USPS).

It was determined earlier that the USPS is losing money because of the COVID-19 outbreak.

An anonymous White House official told the outlet that it was made very clear with Congress that Trump will reject the bill if it contains the budget for the Postal Service. While the official was uncertain if they used the veto word to describe what the administration wishes to convey about the proposal, they made sure that it was clear that Trump will opt out to sign it, should he see the inclusion.

At first, legislators had decided to take in a $13 billion Postal Service allotment that doesn’t require payment later. However, the final draft that was approved into law had a $10 billion loan included as a provision for the nation’s official mail service.

On Thursday, USPS Postmaster General Megan Brennan stood as a resource person and told the House Oversight and Reform Committee that the agency will no longer have a budget by September, end of the fiscal year, should it not receive financial help from the government.

According to the Post, the approval for the earlier included USPS $10 billion loan is still pending at the Treasury Department.  

Also, Brennan reportedly requested the lawmakers for additional assistance of $50 billion, which the first half will be utilized to compensate losses because of the COVID-19 pandemic, and the remaining 50% is for the agency’s modernization.

The postmaster general further noted that the USPS is looking at losses of up to $13 billion because of coronavirus, and around $54.3 billion of potential loss in the next ten years.

As of date, over 31,600 post offices are operating across the nation, and it employs about 650,000 or more people. Without the pandemic, the postal and mailing industry makes around $2 trillion every year.

Source: The Hill