Postal Service Bummers Coming: Stamp Price Hike and Longer Delivery Wait Time
If you thought you were being patient waiting for your mail to arrive, that is going to be tested a bit further. According to the U.S. Postal Service, starting this October, some of your mail could take a little longer to arrive. The Postal Service has issued a public notice announcing that one to two days are being added to the service standard for certain First-Class Mail and Periodicals, while 61% of first-class mail would remain at current standards.
The reason for extended delivery on certain mail? This is part of a 10-year strategic plan called "Delivering for America", which is designed to help the postal service achieve "excellence and financial sustainability". That strategic plan was announced on March 23, 2021. More specifically, this plan is meant to help the postal service actually make a positive net income within three years and further down the road within 10 years, to just "break even".
Along those lines, the price of stamps is getting a significant bump at the end of this month if approved. This is also a part of the Delivering for American plan. The postal service reports that with the continuing decline of the amount of mail delivered, the means lost revenue to pay for operating costs. Therefore, to helps offset costs, the price of stamps must rise by 3 cents to 58 cents on August 29. The current rate is 55 cents per stamp. It should be noted that here in the U.S., we still have some of the least expensive prices for mailing in the world.
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