Current location:Earthly Insights news portal > entertainment
US Postal Service seeks to hike stamp prices to 73 cents
Earthly Insights news portal2024-05-21 08:52:36【entertainment】5People 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.
Address of this article:http://cuba.cassettedesign.com/html-70a299928.html
Very good!(381)
Related articles
- Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
- Heat rule rookie forward Jaime Jaquez Jr. out of Game 5 vs. Celtics with hip injury
- Trainer Chad Brown seeks first Kentucky Derby victory after coming close. Having 2 entrants helps
- Chris Pine dons plaid blazer to honor his hero Jeff Bridges at 49th Chaplin Award Gala in NYC
- The fightback begins: Boss of London's Queen Mary University tells pro
- After a strong first round, overall NFL draft ratings down 3 percent from last year
- Mobile sports betting will remain illegal in Mississippi after legislation dies
- Jerry Seinfeld says 'extreme left' politically correct mob has killed comedy
- Amtrak train hits pickup truck in upstate New York, 3 dead including child
- Brad Stevens selected as NBA's executive of the year after Celtics' NBA
Popular articles
Recommended
Analysis: Larson enters conversation with Verstappen as best drivers in the world
Pennsylvania moves to join states that punish stalkers who use Bluetooth tracking devices
Court in the Central African Republic issues international arrest warrant for former president
Capitals' T.J. Oshie hopes to play next season
Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
St. John's Chris Ledlum and Jordan Dingle suing NCAA for denying them 2024
US House votes to remove wolves from endangered list in 48 states
Lucknow beats Mumbai by 4 wickets to rise to third in IPL
Links
- Young Conductor Dedicated to Improving Services on China
- Guangzhou, Shanghai take lead in CBA playoffs
- Hou Hongqin: Working Hard to Ensure Qinqiang Opera Thrives
- Marine Scientist Pursues Dream by Studying Coral
- Chen Chunyan: 'Liusanjie of New Generation' Sings for New Era
- Working Tirelessly on Fertile Land
- Centenarian Doctor Committed to Defeating Leprosy
- GLOBALink
- Woman Pursues Dreams in Countryside, Contributes to Rural Revitalization
- Qian Suyun: Safeguarding Children's Health for Decades