There is a stamps increase proposal hitting the news, as the U.S. Postal Service wants to raise the price of a first-class stamp another three cents. According to the Associated Press via ABC News on Sept. 25, there is a lot that needs to happen before the anticipated increase falls into place, but most would imagine it will be approved.
The USPS expects to lose $6 billion this year, and the stamps increase would lessen that amount somewhat. It would not, however, fix the ongoing financial crisis facing the entity. The Postal Regulatory Commission needs to approve the Postal Service rate increase. If the proposal is approved, the first-class mail stamp price will shift to 49 cents each beginning Jan. 26, 2014.
There are other postage increases proposed, including a hike in bulk mail pricing and a slight increase to international prices and postcard mailing costs. Pricing increases never go over well with consumers, but the USPS is seemingly desperate to turn things around. They have been seeking help from Congress, but progress has been slow, if not non-existent.
Most would imagine the first-class stamps increase will be approved, but many wonder what else the group will do to finally stem the tide of enormous losses incurred year after year.