Home / Business / The post office asked to raise the price of mailing to 58 cents.

The post office asked to raise the price of mailing to 58 cents.

DeJoy, the appointee of former President Donald Trump, announced a 10-year plan for the agency in March. This includes longer first-class mail delivery times. and reduce post office hours nationwide A struggling postal general who was also a donor to the former president It faces criticism about the slowdown in mailings. especially before the election last year.
“Over the past 14 years, the Postal Service has had limited pricing power in response to changes in market realities,” DeJoy said in a statement on Friday.

“It is part of our 1

0-year plan to achieve financial sustainability and service excellence. The Postal Service and the Board of Governors are committed to a prudent approach to reasonable pricing that helps us remain competitive. and provide reliable postal service The most affordable price in the world.”

Stamp prices have continued to rise, with significant increases in recent years. Mailing costs 49 cents in 2017, 50 cents in 2018 and 55 cents in 2019, which are still current prices, according to USPS.

The price hike, which will take effect on August 29, if approved by the Postal Regulatory Commission. as a result of the delayed mail volume. According to the agency’s press release

“First-class email prices will increase by 6.8 percent to offset lower revenue due to lower first-class mail volumes,” the report states. Ongoing during the same period The volume of first-class mail dropped 32 percent, and the volume of one-piece first-class mail — including postage stamps — dropped 47 percent.”

last week A group of senators has passed legislation to overhaul the USPS after struggling agencies have repeatedly asked Congress to help the dire financial situation. The measure would eliminate pre-funding requirements for Postal Service retirees that deter the agency in financial trouble. including integrating retirees’ health care with Medicare, a measure that lawmakers argue alone will generate more than $45 billion in savings for the postal service over the next 10 years.

DeJoy faces backlash from his transition into the agency. Democrats have linked him to anti-Trump email voting rhetoric. and accused him of trying to sabotage the postal service ahead of the 2020 elections.

Postal service workers and unions have been preparing for the release of the plan after changes DeJoy made to the agency last summer delayed mail delivery. This makes the postal service more competitive and modern. This includes new energy-friendly transport vehicles.

This includes investing in “Advanced packaging processing equipment” Post office and uniform upgrades New technologies such as mobile devices for mail carriers and training new employees It also called for a reduction in expected delivery times, noting that the system was unable to meet. “In the past eight years”

CNN’s Kristen Holmes, Manu Raju, Liz Stark, Devan Cole and Daniella Diaz contributed to this report.

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