The House and Senate are still technically on August recess,
though the House returned this past weekend to pass a bill
Fellow Conservative:
The House and Senate are still technically on August
recess, though the House returned this past weekend to pass a
bill giving $25 billion to the U.S. Postal Service (USPS) - this,
in spite of the USPS having between $14-15 billion in cash on
hand, and receiving $10 billion in loan authority in the first
CARES Act.
Critically, that $10 billion in loan authority is
designed to be accessed if the USPS finds itself with under $8
billion in cash on hand; and at that point, it converts to a
grant. The USPS has used approximately zero of that borrowing
authority.
The fear-mongering about the USPS has reached
Russia-gate proportions as a conspiracy theory. Is the USPS
massively mismanaged and in fiscal disarray? Absolutely. But as
I've written previously, it's because Congress repeatedly fails
to give USPS the statutory tools it needs to respond to economic
variables and a rapidly shifting marketplace - not because of
some diabolical plot to throw the election.
But it's an election year, so hysterics win out over
any sort of reasoned discussion. 26 House Republicans voted for
the $25 billion in additional money for the USPS. And the issue
was such a huge crisis that 30 percent of House Democrats didn't
even show up for the vote - choosing instead to cast their votes
by proxy. (More from me on the issues with proxy voting, and
don't forget Rep. Greg Stanton (D-Ariz.) casting his vote... from
a boat.)
The bill has now been sent to the GOP-controlled
Senate, where no action is expected.
I hope this policy update has been informative.
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Rachel Bovard
Director for Policy
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