The U.S. Postal Service Governors this week recommended
increasing the price of a first-class stamp 2 cents to 46 cents.
The price of a postcard would increase 2 cents to 30 cents.
The Postal Regulatory Commission must approve the recommended
price changes. The increases would not go into effect until January
2, 2011. It would be the first stamp price increase in almost two
years.
Holiday Evergreen Forever Stamps will be available to the public
in October at the current rate of 44 cents. Once purchased, the
stamps are valid literally forever
– despite any future price changes.
The U.S. Postal Service Governors this week recommended increasing the price of a first-class stamp 2 cents to 46 cents. The price of a postcard would increase 2 cents to 30 cents.
The Postal Regulatory Commission must approve the recommended price changes. The increases would not go into effect until January 2, 2011. It would be the first stamp price increase in almost two years.
Holiday Evergreen Forever Stamps will be available to the public in October at the current rate of 44 cents. Once purchased, the stamps are valid literally forever – despite any future price changes.
Faced with plummeting mail volume traced to the recession and increased use of the Internet, the Postal Service is projecting a deficit of nearly $7 billion for the next fiscal year. Despite eliminating 1 million work hours and reducing expenses by more than $1 billion every year since 2001, a budget gap remains.
The proposed price changes, if approved, would raise about $2.3 billion for the first nine months of 2011. Postmaster General John E. Potter said he does not want customers to bear the burden of dramatic price increases.
“There is no one single solution to the dire financial situation that the Postal Service faces,” Potter said. “These proposed rate adjustments are moderate and part of a fair and balanced approach to ensuring mail service for all Americans well into the future.”
Other actions outlined in March included changes to delivery frequency, restructuring prepayments of retiree health benefits, creating a more flexible workforce and expanding access to products and services to places more convenient to customers.
The Postal Service receives no tax dollars for operating expenses, and relies on the sale of postage, products and services to fund its operations.
Complete details of today’s filing can be found on usps.com . No prices will change before 2011.
