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This follows an increase in January 2024 and marks the sixth increase since January 2021. Despite these ongoing price hikes, the United States maintains relatively inexpensive postage compared to other developed countries. A 2024 study by the USPS Inspector General found that the U.S. had a lower stamp price than 26 out of 30 comparable countries.
Because the U.S. Postal Service has raised its rates on stamps twice in 2021 and 2022, equaling a rate hike of about 6.5% overall, it makes sense to wonder if Forever Stamps could be a good ...
Between 2007 and 2016, the USPS lost $62.4 billion; the inspector general of the USPS estimated that $54.8 billion of that (87%) was due to prefunding retiree benefits. [13] By the end of 2019, the USPS had $160.9 billion in debt, due to growth of the Internet, the Great Recession , and prepaying for employee benefits as stipulated in PAEA. [ 14 ]
The United States Postal Service announced plans to raise the price of Forever stamps and other postage for 2023. Upon approval from the Postal Regulatory Commission, USPS says the cost of first ...
The USPS will bump the cost of a first-class Forever stamp to 73 cents on July 14, a 5% jump from the previous price point and 10 cents above the price at the start of 2023.
President Joe Biden signs the Postal Service Reform Act in the State Dining Room of the White House on April 6, 2022. The act was first introduced on May 11, 2021, by Representative Carolyn Maloney (D-NY). [1] The House of Representatives then passed the bill by 342–92 on February 8, 2022. [4] On March 8, 2022, the Senate voted 79–19 to ...
In 2023 alone, the postal service reported a $6.5 billion deficit. For 2024, they project an additional $6.3 billion in losses. The most recent hike marks the fifth price increase in the past two ...
As of 2023, the Postal Service operates 33,641 Post Office and contract locations in the U.S., and delivered a total of 127.3 billion packages and pieces of mail to 164.9 million delivery points in fiscal year 2022. [3] USPS delivers mail and packages Monday through Saturday as required by the Postal Service Reform Act of 2022; on Sundays only ...