The U.S. Postal Service is seeking to increase the price of its first-class stamp by 5 cents to 55 cents to help stem its mounting red ink.
If approved by regulators, the 10 percent increase to the cost of mailing a 1-ounce letter would be the biggest since 1991. The price of each additional ounce would go down, from 21 cents to 15 cents.
The proposed increase would take effect in January. It comes as President Donald Trump has criticized the Postal Service for “losing a fortune” by not charging higher shipping rates for online retailers such as Amazon.com.
The Postal Service has seen years of financial losses as an unrelenting drop in mail volume and costs of its health care and pension obligations outweighed strong gains in package deliveries.
(AP)
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2 Responses
Price increases will not help improve the U.S. snail mail system. Mail will still get lost or thrown away as it has been.
What the USPS needs is a REAL leader who knows how to fix a huge monster that is on the verge of self destruction. Get rid of the politicians and the U.S. government who always has its hands in the cash register.
Email! Have any important things been mailed by snail mail in the last 5 years!!!
Digital mail is the wave of the current and the future!