Ryan calls for SEC investigation into stock purchases of USPS vehicle manufacturer
WASHINGTON - Congressman Tim Ryan is calling on the Securities and Exchange Commission (SEC) to investigate stock purchases made just hours before an announcement of a contract between the Postal Service and the Oshkosh Corporation.
According to the release, $54 million in Oshkosh stock was purchased less than 24 hours before Postmaster General Louis DeJoy publicly announced their contract with the USPS.
The contract between the two is worth $6 billion to replace the USPS fleet of vehicles.
Ryan, Senator Sherrod Brown and Congresswoman Marcy Kaptur sent a letter to President Biden last week urging him to halt the postal truck contract.
They say a review should be done on whether inappropriate political influence was involved in the decision to partner with Oshkosh.
Ryan also says he is concerned that only 10% of the vehicles built under the contract are electric, even though Biden called for the electrification of the USPS fleet.
