The US Postal Service has requested a rate increase this summer that includes raising the cost of a first-class stamp from 73 cents to 78 cents.
The big picture: The rate increase request was submitted to the Postal Regulatory Commission. If approved, the 5-cent increase for a forever stamp and similar increases for postcards, metered letters, and international mail would take effect on July 13.
- The Postal Service argues that the proposed rate hikes are necessary to achieve financial stability.
- The service had enacted a similar increase last year for the same reason.
- Following the resignation of former Postmaster General Louis DeJoy, Deputy Postmaster General Doug Tulino is overseeing operations until a permanent replacement is named by the Postal Service Board of Governors.
