Rep. Andy Biggs, R-Ariz., says government agencies need to be more transparent with the American people on ‘The Evening Edit.’<\/p>\n
The U.S. Postal Service announced Friday that it is increasing the price of some mailing services this summer, pushing the cost of a first-class stamp to 58 cents. <\/p>\n
The price increase is part of Postmaster General Louis DeJoy's 10-year plan, introduced in March, to reorganize the Post Office and avoid a projected $160 billion loss over the next decade. The initiative includes longer delivery times for some first-class mail, shorter hours for some post offices and more expensive postal rates. <\/p>\n
"This is a very positive vision," DeJoy said at the time. He warned that if the agency's long-term financial woes were not addressed, it would "run out of cash and require a government bailout." <\/p>\n
POSTAL SERVICE LOSES $2.2B IN 3 MONTHS AS VIRUS WOES PERSIST<\/u><\/strong><\/p>\n First-class stamps currently cost 55 cents. <\/p>\n The USPS will also raise the cost of "market dominant" mail, including letters, postcards and marketing missives. Those are areas under which USPS has a lawful monopoly. <\/p>\n "For the past 14 years, the Postal Service has had limited pricing authority to respond to changing market realities," DeJoy said in a statement. "As part of our 10-year plan to achieve financial sustainability and service excellence, the Postal Service and the Board of Governors are committed to judiciously implementing a rational pricing approach that helps enable us to remain viable and competitive and offer reliable postal services that are among the most affordable in the world."<\/p>\n The changes will take effect on Aug. 29.<\/p>\n