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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.
The previous increase was in August 2021, when the USPS raised the price of a first-class stamp from 55 cents to 58 cents. Find: 9 Best Dollar Tree Items for Fall 2022
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]
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 ...
Back in July, the price of a first-class stamp jumped from from 68 cents to 73 cents, marking the largest increase since 2019. The USPS has steadily raised postal rates in recent years, with stamp ...
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 ...
The Post Office stated that the release took place on June 17. Some sources, however, believe that the stamp was introduced on April 14, the one-year anniversary of Lincoln's death, and one notable expert made an (unverifiable) claim that the stamp first saw use on April 15. [32]
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 ...