Photo: Spencer Platt/Getty Images

The financially struggling U.S. Postal Service should raise prices for shipping nonessential packages, recommends a newly released report from a Treasury Department task force.

Why it matters: President Trump created the commission after criticizing Amazon for allegedly underpaying the USPS for package shipments and referring to the USPS as Amazon's "Delivery Boy." Stocks from Amazon, UPS, USPS and stamps.com all dropped after the report was released.

The backdrop: Last month, the USPS reported FY18 results with an overall volume decline of 3.2 billion pieces and a net loss of $3.9 billion. Revenue was up $1 billion from last year because of the shipping and packages sector — a 10% increase from last year.

What they're saying
"Today’s report contains achievable recommendations that fulfill the President’s goal of placing the USPS on a path to sustainability, while protecting taxpayers from undue financial burdens and providing them with necessary mail services.”
— Treasury Secretary Steven Mnuchin
“The United States Postal Service as currently structured is financially unsustainable. I appreciate Secretary Mnuchin and the Postal Task Force’s effort to accurately assess the Postal Service’s financial reality and propose viable solutions without relying on a taxpayer bailout.”
— Sen. Ron Johnson (R-Wis.), chairman of the U.S. Senate Committee on Homeland Security and Governmental Affairs

Go deeper: Trump hates Amazon, not Facebook

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci: Trump hasn't been to a COVID task force meeting in months — Trump claims COVID "will go away" during debate.
  2. Sports: The youth sports exodus continues — Big Ten football is back.
  3. Health: How to help save 130,000 livesFDA approves Gilead's remdesivir as treatment How the pandemic might endMany U.S. deaths were avoidable.
  4. Retail: Santa won't greet kids at Macy's this year.
  5. World: Spain and France exceed 1 million cases.
1 hour ago - Health

Fauci: Trump hasn't been to a COVID task force meeting in months

Photo: Drew Angerer/Getty Images

President Trump has not attended a White House coronavirus task force meeting in “several months,” NIAID director Anthony Fauci told MSNBC on Friday.

Why it matters: At the beginning of the pandemic, the task force, led by Vice President Mike Pence, met every day, but in the "last several weeks," members have held virtual meetings once a week, Fauci said, even as the number of new cases continues to surge in the country.

2 hours ago - Health

How to help save 130,000 lives

People wear face masks outside Grand Central Terminal in New York City. Photo: Noam Galai/Getty Images

Nearly 130,000 fewer people will die of COVID-19 this winter if 95% of Americans wear face masks in public, according to research published Friday.

Why it matters: “Increasing mask use is one of the best strategies that we have right now to delay the imposition of social distancing mandates," Dr. Christopher Murray of the University of Washington told the N.Y. Times.