Stamp prices going up again

First class postage stamps are slated to rise again in price Sunday, Jan. 22, because of what the governmental agency calls increasing operating expenses and a corresponding lack of revenue.

On that date, the cost will increase from 60 to 63 cents.

Last spring, U.S. Postal Service hiked first class stamp prices from 58 to 60 cents.

The price to send domestic postcards will increase from 44 to 48 cents, with international postcards and letters increasing by 5 cents to $1.45, also Jan. 22.

U.S. Postal Service expenses have exceeded revenue year-after-year since 2007.

According to the Government Accounting Office (GAO), the Postal Service is able to stay in business by increasing its debt and missing required federal payments to fund retiree pension benefits.

USPS has lost $87 billion in the past 14 years, including $18 billion since March 2020, the start of the COVID-19 pandemic in the United States.

Despite receiving $10 billion in Coronavirus Aid, Relief and Economic Security (CARES) Act relief, GAO reports the USPS business model is unsustainable.

In March, Congress approved a financial relief bill to pump $50 billion into USPS over the next decade. The legislation also required Postal Service retirees to enroll in a federally sponsored health insurance plan.

USPS is the country's most favorably viewed government agency, according to a Gallup Poll released last summer, with 74% of respondents viewing it as performing an "excellent" or "good" job.

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