The U.S. Postal Service’s governing body, the Board of Governors, voted this week to request permission to raise postage prices above the inflation-based price cap to generate $2 billion in revenue in 2014. It is asking the regulator, the Postal Regulatory Commission (PRC), to allow the Postal Service to raise the price of a stamp by 3 cents (to 49 cents), which is 2 cents more than the annual inflationary increase. Prices on other single-piece and commercial mail products would also increase.
It’s that time of year again, when we release our Semiannual Report to Congress (SARC) — a twice yearly look at our work that reflects our mission of ensuring efficiency, accountability, and integrity in the U.S. Postal Service.
Through the first six months of this fiscal year, we issued...Read More