Current location:opinions >>
US Postal Service seeks to hike stamp prices to 73 cents
opinions739People have gathered around
IntroductionWashington —The United States Postal Service (USPS) said on Tuesday it wants to raise the price of f ...
The United States Postal Service (USPS) said on Tuesday it wants to raise the price of first-class mail stamps to 73 cents from 68 cents effective July 14.
The proposal, which must be approved by the Postal Regulatory Commission, would raise mailing services product prices by 7.8%.
USPS in November reported a $6.5 billion net loss for the 12 months ending Sept. 30 as first-class mail fell to the lowest volume since 1968. Stamp prices are up 36% over the last four years since early 2019 when they were 50 cents.
USPS has been aggressively hiking stamp prices and is in the middle of a 10-year restructuring plan announced in 2021 that aims to eliminate $160 billion in predicted losses over the next decade and had previously forecast 2023 as a breakeven year.
USPS has been raising stamp prices twice yearly and has said it expects its "new pricing policy to generate $44 billion in additional revenue" by 2031.
A number of lawmakers have raised concerns about USPS planned changes to its processing and delivery network that could impact timely deliveries.
First-class mail volume fell 6.1% in the 12 months ending Sept. 30, 2023, to 46 billion pieces and is down 53% since 2006 -- to the lowest volume since 1968 -- but revenue increased by $515 million because of higher stamp prices.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Station news portal”。http://tonga.downmusic.org/html-58d599932.html
Related articles
Xinhua Headlines
opinionsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【opinions】
Read more'Influencer' pup living in the lap of luxury travels the world in five
opinionsAn 'influencer dog' has been living in the lap of luxury as he travels the world in five-stay hotels ...
【opinions】
Read moreHow Princess Diana's audacious bid for freedom 30 years ago became a heart
opinionsIt was supposed to be the start of a new start for Diana, Princess of Wales. Instead, 1994 ended up ...
【opinions】
Read more
Popular articles
- China supports IAEA's efforts to ensure Zaporizhzhia's safety
- What would open warfare between Israel and Iran look like? How tit
- U.S. dispatches general in charge of the Middle East to F
- Sandringham House is filled with the spirit of the King's gentle
- CPC Leadership Hears Work Reports
- LIZ JONES: Kate's strength has made me ashamed. And there's one self
Latest articles
Mideast in Pictures: Long road to recovery awaits quake
Kate and Charles' heart
Thomas Kingston dies aged 45: How the royal family will form a tight circle of support around much
LIZ JONES: Kate's strength has made me ashamed. And there's one self
Nation hailed for brokering Saudi
A quiet birthday for Meghan's former best
LINKS
- Xi Stresses Accelerated Efforts to Build Leading Country in Education
- Central Asian Leaders Attend Welcome Ceremony
- Xi Stresses Accelerated Efforts to Build Leading Country in Education
- Xi Sends Congratulatory Letter to Forum on Development of Tibet
- View of Zhalong National Nature Reserve in northeast China
- Guangxi's Sanyuesan Festival makes a splash in Beijing
- Book of Xi's Discourses on Sci
- In pics: autumn scenery across China
- Autumn scenery of imperial Xiaoling Mausoleum in Nanjing, E China
- Blooming redbud flowers adorn countryside in C China