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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Sincerely,

Rachel Bovard

Director for Policy

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