Mon. Jul 22nd, 2024

As Another Rate Hike Looms for January, Keep US Posted Warns of Disastrous Costs for USPS Itself

October 9, 2023

READ FULL ARTICLE AT » www.keepusposted.org

Noting that Each Rate Hike Drives Away More Mail & Puts USPS Further in Debt, Keep US Posted Calls on Postal Regulatory Commission to Freeze Rates

WASHINGTON, D.C. (October 6, 2023) – Keep US Posted—a nonprofit advocacy group of consumers, nonprofits, newspapers, greeting card publishers, magazines, catalogs and small businesses—today called on the Postal Regulatory Commission to reject the U.S. Postal Service’s plans to raise postage rates again in January 2024 and continue the unprecedented trend of twice annual price increases (taking effect every January and July) since 2022.

If approved by the Postal Regulatory Commission, prices will increase across all First-Class mail products by 2 percent, and the cost of a First-Class Mail Forever stamp will rise from 66 cents to 68 cents. Stamp prices just increased in July from 63 cents to 66 cents, after going from 60 cents to 63 cents in January 2023.

Keep US Posted warns that the twice annual postage hikes—a key part of the Delivering for America Plan, USPS’ 10-year roadmap to financial solvency—are compounding USPS losses and could lead to a government bailout if the Postal Regulatory Commission or Congress does not put a stop to them.

“These unprecedented postage hikes are giving Americans rate whiplash and compromising the Postal Service’s ability to deliver for America,” said Keep US Posted Executive Director and former Congressman Kevin Yoder (R-Kan.). “While intended to raise revenue, the data shows that each new postage hike only drives more consumers and businesses away from using the mail. Mail volume is currently down nearly 9% year-over-year, after rate hikes took effect in January and July, and the proposed increase next January will only perpetuate these losses. Paper mail business keeps USPS afloat, and with every postage hike, more mail leaves the system forever.”

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