The Price To Mail Something Could Increase In New York

You may want to head over the the Post Office over the next couple of weeks and stock up on Forever stamps.

The United States Postal Service is currently working on a new proposal that would increase the cost of 1st class postage by 5 cents from 68 cents to 73 cents. This would be an increase of over 7%.

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The new proposal for the increase was made by the Post Office to the Postal Regulatory Commission, which would have to approve any rate hikes.

The Post Office is requesting the increase to help the Post Office increase its financial stability.

Besides the 5-cent increase in "Forever" stamps, the new proposal calls for other increases in price for domestic postcards from 53 cents to 56 cents and international postcard prices increasing from $1.55 to $1.65.

The proposal calls for the increase to start on July 14, 2024.

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According to CNN, this request could be declined by the commission. While it doesn't happen often, it did happen back in 2010.

The Postal Regulatory Commission denied a price hike because, according to its statement at the time, USPS “failed both to quantify the impact of the recession on its finances and to show how its rate request relates to the resulting loss of mail volume.”

The price of the "Forever" stamp has increased 18 cents since 2019 and this would be the second increase in the price this year alone.

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The United States Post Office is expected to post over $6 Billion dollars in losses this year.