The US Postal Service on Tuesday proposed an total enhance of practically 8 p.c on the worth of postage, the newest in a collection of stamp hikes over the previous three years.
The brand new costs would take impact in July, pending approval from an impartial regulatory fee. Amongst different modifications, a Perpetually stamp would price 73 cents as an alternative of 68 cents, and the worth of a home postcard would rise to 56 cents from 53 cents.
The proposed modifications, like a number of others since 2021, are a part of the service’s 10-year plan to lift costs and sluggish some deliveries, amongst different measures, to attempt to recoup $160 billion in projected losses over a decade.
The Postal Service has confronted monetary points for years as a result of it’s required to fund retiree well being care advantages for its staff prematurely. It’s additionally going through headwinds, like different postal companies globally, as fewer folks ship mail. Its operations are usually not funded by tax revenues.
The value hikes proposed on Tuesday would have to be permitted by the Postal Regulatory Fee, an impartial company in Washington that oversees the Postal Service.
