USPS looks to raise price of “forever” stamp to 78 cents, as part of rate increase proposal
The U.S. Postal Service has requested a rate increase this summer, aiming to raise the cost of a first-class stamp from 73 cents to 78 cents. The proposal was submitted to the Postal Regulatory Commission on Wednesday, with a potential effective date of July 13 for the 5-cent increase. Along with the price hike for “forever” stamps, postcards, metered letters, and international mail would also see similar increases if approved.
This move would result in a 7.4% increase in mailing services product prices. The Postal Service justifies this request by citing the need for financial stability, a similar argument made last year when a comparable increase was implemented. Former U.S. Postmaster General Louis DeJoy, who recently resigned after nearly five years in the position, had previously warned customers about upcoming rate hikes. He stated that these increases were necessary for the Postal Service to achieve self-sufficiency after years of what he called a flawed pricing model.
In the midst of these changes, Deputy Postmaster General Doug Tulino has temporarily taken on the role of postmaster general until a permanent replacement for DeJoy is named by the Postal Service Board of Governors. Additionally, discussions have surfaced regarding the potential privatization of mail service, with President Donald Trump and Elon Musk’s Department of Government Efficiency (DOGE) considering the idea. Trump has even mentioned the possibility of placing the USPS under the control of the Commerce Department in an effort to address the agency’s financial struggles, given its annual revenue of $78 billion and challenges in balancing the books amidst declining first-class mail volume.
As the USPS navigates these changes and challenges, it remains a crucial part of the nation’s infrastructure. Stay tuned for further updates on this evolving situation.
