WASHINGTON (AP) — The U.S. Postal Service is seeking a rate increase this summer that includes hiking the cost of a first-class stamp from 73 cents to 78 cents.
The request was made Wednesday to the Postal Regulatory Commission, which must OK the proposal. If approved, the 5-cent increase for a “forever” stamp and similar increases for postcards, metered letters and international mail would take effect July 13.
The proposed changes would raise mailing services product prices approximately 7.4%.
The Postal Service contends, as it did last year when it enacted a similar increase, that it’s needed to achieve financial stability.
Former U.S. Postmaster General Louis DeJoy previously warned postal customers to get used to “uncomfortable” rate hikes as the Postal Service seeks to become self-sufficient. He said price increases were overdue after “at least 10 years of a defective pricing model.”
DeJoy resigned in March after nearly five years in the position, leaving as President Donald Trump and Elon Musk’s Department of Government Efficiency had floated the idea of privatizing mail service.
Deputy Postmaster General Doug Tulino has taken on the role of postmaster general until the Postal Service Board of Governors names a permanent replacement for DeJoy.
Trump has said he is considering putting USPS under the control of the Commerce Department in an effort to stop losses at the $78 billion-a-year agency, which has struggled at times to balance the books with the decline of first-class mail.
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