The United States Postal Service (USPS), in an effort to gain financial stability, proposed a rate increase for First-Class Mail (1.949%), Standard Mail (1.886%), Periodicals (1.965%), Package Services (1.964%) and Special Services (0.234%). If regulators approve these increases, they are expected to take effect before the end of April 2015 and bring in approximately $900 million per year in extra revenue.
The Postal Service released a statement about the rate increases, saying:
Today’s action is the latest in a series of steps the Postal Service has taken as part of a comprehensive approach to achieve financial stability. By growing volume, revenue and contribution, the Postal Service will continue to meet America’s mailing and shipping needs well into the future. While improving efficiency in streamlining its network and seeking legislative changes, the Postal Service must address an outdated business model.
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