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USPS Proposes 82-Cent First-Class Stamp, Targeting July 12 Start

The move underscores USPS's scramble to raise cash during a deepening financial crisis.

Overview

  • USPS, which filed Thursday with the Postal Regulatory Commission, proposed lifting First-Class Forever stamps to 82 cents and raising overall mailing rates about 4.8 percent effective July 12 if approved.
  • Regulators this week cleared an 8 percent temporary surcharge on Priority Mail and other packages starting April 26 and running through January 17.
  • The PRC also approved USPS suspending employer pension contributions starting Friday, a step the agency says frees about $200 million every two weeks through September 30.
  • Postal leaders warn liquidity is tightening after about $118 billion in losses since 2007 as first-class volume falls to late-1960s levels, and the postmaster general told Congress the agency could run out of cash within a year.
  • Parallel moves include a reported Amazon deal for at least 1 billion packages a year, the hiring of restructuring advisers, and discussion of future stamp prices as high as 90 to 95 cents.