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Photo: Tayfun Coskun/Anadolu Agency via Getty Images

The latest coronavirus relief deal, which Congress is aiming to approve later today, provides $10 billion to help the ailing U.S. Postal Service, legislative aides familiar with the text tell Axios.

Why it matters: This new round of funding comes as the Postal Service has struggled to operate amid the pandemic, withstand a surge in Christmas shipping and be ready for a busy January, when Americans typically receive documents used for their tax preparation.

  • A fresh round of stimulus checks, this time $600 per adult and child, also are expected to be mailed before the end of this year.

Driving the news: The new bill will convert $10 billion from the government's March CARES Act loan program into direct funding for the USPS. The money will be used for operational and other increased costs resulting from the COVID-19 pandemic.

  • Democrats portrayed the outcome as a win, since it reallocated money the administration had threatened to eliminate.

The backdrop: The Postal Service has faced widening losses during the past several months, and it had been projected to run out of money as early as Oct. 1.

  • President Trump has also waged open warfare on the Postal Service, criticizing its deals with express shippers such as Amazon and installing a longtime Republican donor, Louis DeJoy, as postmaster general.

Go deeper

Updated Dec 28, 2020 - Politics & Policy

House votes to increase stimulus payments to $2,000 per person

House Speaker Nancy Pelosi. Photo: Tasos Katopodis/Getty Images

The House voted 275-134 on Monday to increase direct payments from its coronavirus relief package to $2,000 per person, up from the $600 checks that Congress had previously approved.

Why it matters: The measure is unlikely to pass the GOP-controlled Senate, but could further divide President Trump and Republicans ahead of the crucial Senate runoffs in Georgia next week.

U.S. women's soccer team beats Netherlands, moves on to Olympic semifinals

Photo: Francois Nel/Getty Images

The U.S. women's soccer team beat the Netherlands in a penalty kick shootout on Friday, propelling them to the semifinals of the Olympic Games.

Why it matters: The win brings the U.S. team one step closer to its quest for a historic back-to-back double — winning the Olympics after emerging victorious at the Women's World Cup. The U.S. will play Canada in the semifinals next week.

Dan Primack, author of Pro Rata
10 mins ago - World

SEC clamps down on Chinese IPOs

Illustration: Sarah Grillo/Axios

Chinese companies will be unable to go public in the U.S. unless they make new risk disclosures, according to a statement released Friday morning from SEC chair Gary Gensler.

Why it matters: Chinese companies, and tech startups in particular, are already under growing pressure from their own government. Now they're also getting squeezed by U.S. officials.