Will Congress Put the Brakes on Postage Rate Hikes?
The USPS has long had restrictions over how much it could raise rates for “market dominant” services (which includes the cost of a stamp, First Class Mail, and Media Mail), but it now has greater latitude to raise rates above the rate of inflation. However, some members of congress want to look into reversing that decision.
Smaller online sellers who rely on the USPS have noticed that rates are increasing more frequently (3 times a year instead of once). And in May, USPS Postmaster General Louis DeJoy told the mailing industry to prepare for rate increases at an “uncomfortable rate.”