America Postal Service on Tuesday proposed an total improve of practically 8 p.c on the worth of postage, the newest in a sequence of stamp hikes over the previous three years.
The brand new costs would take impact in July, pending approval from an unbiased regulatory fee. Amongst different modifications, a Endlessly stamp would value 73 cents as a substitute 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 gradual 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, for years, it was required to fund retiree well being care advantages for its staff upfront. It’s additionally dealing with headwinds, like different postal companies globally, as fewer individuals ship mail. Its operations are usually not funded by tax revenues.
The worth hikes proposed on Tuesday would should be authorized by the Postal Regulatory Fee, an unbiased company in Washington that oversees the Postal Service.