Lexington’s Paul Steidler was quoted in a December 23rd FreightWaves article about the forgiveness of a $10 billion loan to the Postal Service as part of the COVID-19 stimulus and government funding bill passed by Congress that month. Once the Postal Service borrows the $10 billion, it will not have to repay it.
The article quoted from a December 4 op-ed by Steidler which said that USPS had so much cash on hand that it should not need to borrow for at least the next fiscal year, and criticized efforts to throw relief funding at the Postal Service. Steidler recommended for USPS to instead address its “severe and chronic financial problems that need fixing,” such as better pricing its services.
Read the full article here.
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