US Postal Service Proposes Stamp Price Hike
Mesa News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The U.S. Postal Service is seeking a 4.8% increase in first-class stamp prices to $0.82, starting July 12th, to avoid cash depletion within a year. Theyve already received approval for an 8% temporary hike on priority mail and packages, effective April 26th. Postmaster General Louis Steiner warned of potential employee and vendor payment issues without reforms, as the agency posted net losses of $9.5 billion last fiscal year and $9 billion this year. Steiner is urging Congress to raise their borrowing limit and grant authority to raise stamps to $0.95, part of their ten-year plan to adapt to changing mail habits and maintain global competitiveness.
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