Home / Business / The post office raises a stamp of 58 cents to support the debt restructuring plan.

The post office raises a stamp of 58 cents to support the debt restructuring plan.

The US Postal Service has announced plans to raise the price of first-class stamps from 55 to 58 cents, the latest step in Postmaster General. Louis De JoyLouis DeJoyLawmakers Asked for an investigation into the Postal Service’s clandestine operating program, the postal service saw an opportunity to turn the page after a busy year. Senator Reveals Postal Service Reform Bill That Could Beat Opposition MOREA 1

0-year plan to offset billions of intra-agency financial losses.

The Postal Service said in a press release it had filed a complaint against P.The ostal Regulatory Commission has requested a price change which will take effect on Aug 29.

Under the new commission rules introduced in November The Postal Service will be allowed to continue increasing annual inflation rates. The same goes for additional rate hikes based on the additional number of delivery points the postal carrier has to reach each week. The Washington Post reports

In addition to raising the price of first-class stamps Postage for other items It will increase as well, such as letters, postcards, marketing mail. and outgoing international mail

The Postal Service said the planned price change would increase the service by 6.9 percent, with the price of first-class email up 6.8 percent. “Compensate for lower income due to lower first-class mail volume.”

The postal service suffered huge losses during the coronavirus pandemic. In May 2020, the agency warned that the pandemic is a survival hazard.

“It is expected that the COVID-19 outbreak It will significantly increase the postal service’s net operating loss over the next eighteen months. which threatens the ability of the Postal Service to operate,” the agency wrote in a press release at the time.

DeJoy said in a statement on Friday that “over the past 14 years, the postal service has limited pricing power in response to changing market realities.”

“It is part of our 10-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 viable and competitive. and provide reliable postal service one of the most affordable in the world,” he added.

Democratic lawmakers have pushed back on DeJoy’s 10-year plan, which includes raising the standard of service for first-class postal services each day and reducing post office hours.

the day after the release of the plan A group of Democrats has released a bill entitled Fairly Timely Envelope Delivery Act Throughout the Year or the DEJOY Act, which attempts to thwart the changes outlined in the general postmaster’s 10-year goal.

The Democratic Party is led by MPs. Raja KrishnamurthySubramanian (Raja) Raja Krishnamoorthi Congress should not provide a platform for insider trading. Medicines arriving in India amid overnight rise of COVID-19 infections Biden talks to Prime Minister Modi over COVID-19 outbreak in India MORE (D-Ill.), who told the Post at the time that the change to first-class standards “Will not start” for “Americans”

Trump’s appointee DeJoy faces calls to resign after he faces consideration of the proposed changes leading up to the 2020 elections and the Postal Service’s ability to deal with the The influx of mail ballots amid the coronavirus outbreak

Last month, Sat. Tammy DuckworthLadda (Tammy) Tammy Duckworth Military families shouldn’t suffer from food insecurity. Veteran Duckworth responds to Cruise. After ‘military asylum’ comments, Biden signs bill against Asian hate crimes (D-Ill.) urged her supporters to urge the board to remove DeJoy after the committee claimed a former Trump donor. “Continues to receive full support from the committee.”

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