U.S. mail

quick quotes

“... the Postal Service and the Board of Governors are committed to judiciously implementing a rational pricing approach that helps enable us to remain viable and competitive and offer reliable postal services that are among the most affordable in the world. ”

U.S. Postal Service Postmaster Louis DeJoy announcing a 10-year plan "to achieve financial sustainability and service excellence" which includes a rise in price of first-class stamps from 55 to 58 cents.

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    • **BACKGROUND: **The USPS said the proposed price changes are meant to offset declining revenue due to diminished First-Class Mail volume, which fell by 32% over the past decade. The proposed increases, aimed to take effect in August, will raise prices overall by about 6.9%.
    • **DID YOU KNOW? **The USPS is an independent part of executive branch and relies on revenue from the sale of services and products, like stamps - not taxpayer dollars - to operate.
    • BIG PICTURE: The USPS has been operating at a loss for nearly 15 years, with its debts and liabilities far exceeding revenue. Since 2009, the USPS has been on the U.S Government Accountability Office’s “high-risk list” due to dwindling business amid competition from businesses like, UPS, FedEx and Amazon, resulting in declining revenue. Since 2007, the USPS lost $87B, including a $9.2B net loss in 2020.
      • The GAO says “the use of USPS’s most profitable product—First-Class Mail—is expected to continue declining for the foreseeable future.”