The Postal Service warned Congress last year that it would run out of cash by 2024 without legislative and regulatory reform – even sooner, if USPS paid all of its financial obligations.
But an economic recession triggered by the coronavirus pandemic could accelerate that timeline and jeopardize the operations deemed an “essential service” during the spread of COVID-19, the illness caused by the current strain of the virus.
The same night President Donald Trump signed a $100 billion coronavirus aid package into law, four of the largest postal unions requested a similar relief package for the Postal Service, which has already been facing a looming financial crisis.
The Postal Service, in a statement Tuesday, said it has experienced “only minor operational impacts in the United States” because of the pandemic.
However, unions fear an economic recession could pose a “serious threat to the near-term viability of the Postal Service,” and have asked Congress to give USPS more than $7 billion each year for the next two years.