The U.S. Postal Service said Wednesday it wants to raise shipping rates this summer, less than a year after it last raised the price of a first-class Forever stamp. The new price would rise to 60 cents from its current 58 cents, which the postal service said represents a rise below the current inflation rate.
The highest stamp price would take effect on July 10 or 11 months later increase in shipping fee in August, when the stamps went from 55 cents to 58 cents. This means that customers will pay 9% more for shipments compared to prices less than a year ago, or above the 7.9% inflation rate in February.
“Abyssal Service”
Not only do Americans pay more for shipping, but they also receive less for their money, said Paul Steidler, a senior member of the Conservative-leaning Lexington Institute and an expert on postal service. The USPS has slashed its delivery standards over the past year, as part of Postmaster General Louis DeJoy’s plan to put the losing agency back on the road to profitability.
But the postal service doesn’t even comply lower delivery standards, said Steidler. “It’s one thing to have price increases, but it’s another to have an absolutely abysmal service that accompanies that price increase. The price increase is not in the best interest of the American people.”
The announcement comes on the same day that President Biden is scheduled to sign Postal Service Reform Act 2022 to the law. This legislation will provide $ 107 billion in direct and indirect support to the USPS, including allowing future retirees to enroll in Medicare and end the requirement that the agency pre-fund workers’ health care benefits during next 75 years.
The postal service said the price increase will help the agency implement DeJoy’s 10-year plan, known as the “Delivering for America” plan. The USPS also noted inflation and rising operating expenses as a reason for its rate hike.
The agency said it has proposed raising tariffs to the Postal Regulatory Commission (PRC), the federal regulator overseeing the postal agency, but the PRC only issues advisory opinions. In other words, if the USPS wants to increase tariffs, it will move forward regardless of the PRC’s response, Steidler said.
- In:
- United States Postal Service
Add Comment