The US postal service is calling for a rate hike this summer, including hiking the cost of top-class stamps from 73 cents to 78 cents.
The request was made to the Postal Regulation Commission on Wednesday. If approved, a 5-cent increase in “Eternal” stamps and a similar increase in postcards, meter letters and international mail will take effect on July 13th.
The proposed changes will increase the product price of the mailing service by approximately 7.4%.
The Post Office argues that it is necessary to achieve financial stability, as it did when it enacted a similar increase last year.
Below are five things you need to know about US postal services.
Former US Post Officer Louis DeJoy previously warned postal customers to get used to hiking at “uncomfortable” rates, as the post office wants to be self-sufficient. He said price rises have been slower after “at least 10 years of flaws in the pricing model.”
DeJoy resigned in March after taking the position for nearly five years, bringing the idea that President Donald Trump and Elon Musk’s government efficiency would privatize postal services.
Deputy Master General Doug Turino took on the role of Post Office General until the Post Office Governor’s Committee appointed a permanent replacement for DeJoy.
Trump said he is considering putting USPS under Commerce Department control to stop losses at its $78 billion annual agency.
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