Kaptur-Pascrell Postal Banking Amendment Passes House
Washington, D.C. – Today, Representatives Marcy Kaptur (D-OH) and Bill Pascrell, Jr. (D-NJ) applauded the passage in the U.S. House of Representatives of their amendment that will provide $2 million to USPS for postal banking pilot programs throughout the United States.
“As a senior Member of the Appropriations Committee, I am pleased to join my dear friend Rep. Pascrell to lead this amendment to provide critical postal banking services to those who need it the most. With over 30 million unbanked and underbanked Americans, it is clear the free market banking sector has left too many working families behind, especially communities of color,” said Rep. Kaptur. “As our Nation reels from the dual COVID-19 public health and economic crisis, financial resilience and interconnectivity are more important than ever. With a branch in every rural and urban zip code and trusted by all Americans, the Postal Service must provide a financial lifeline to those in need. As the President tries to undermine the postal service so he can influence the elections, the House has already voted to provide $25 billion in assistance. With this Amendment, we are not only defending the Postal Service and its workers, but also innovating for a more dynamic postal service and inclusive financial system.”
“Ninety percent of zip codes lacking a bank or credit union are in rural areas. Bank branches are also sparse in low income urban areas. Approximately 46 percent of Latino and 49 percent of African American households are underbanked,” said Rep. Pascrell. “Americans in red district and blue district alike could derive enormous benefit from a postal banking program. As Donald Trump and his loyalists continue their all-out assault to destroy the post office, the House continues to act not just to protect Americans’ public utility, but help it thrive for generations to come. I thank my good friend Rep. Kaptur for being my partner and helping shepherd this groundbreaking amendment through the House.”
Pascrell concluded, “It has been 76 days since the House passed a $25 billion lifeline to help USPS survive the pandemic, and 176 days since we passed the USPS Fairness Act to remove the single largest cause of the post office’s long-term financial instability. The McConnell Senate needs to get its act together and pass both now.”
Both Members have been leaders in Congress demanding reform to return the USPS to its former glory and strengthen it so it remains an integral part of American life.