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Price Changes Coming and New Forever Stamp

A new Forever Stamp image will be available as part of a pricing package that would add less than 13 cents a month to the average American household’s budget.

The U.S. Postal Service Governors recommended increasing the price of a First-Class stamp 2 cents to 46 cents and authorized the production of a pane of four evergreen tree branches as the newest image for Forever Stamps. The price of a postcard would increase 2 cents to 30 cents.

The Postal Regulatory Commission must approve the recommended price changes. The increases would not go into effect until January 2, 2011. It would be the first stamp price increase in almost two years.

Holiday Evergreen Forever Stamps will be available to the public in October at the current rate of 44 cents. Once purchased, the stamps are valid literally forever – despite any future price changes. No additional postage will ever be needed.

Faced with plummeting mail volume traced to the recession and increased use of the Internet, the Postal Service is projecting a deficit of nearly $7 billion for the next fiscal year. Despite eliminating millions of work hours and reducing expenses by more than $1 billion every year since 2001, a budget gap remains.

The proposed price changes, if approved, will raise about $2.3 billion for the first nine months of 2011. Postmaster General John E. Potter said he does not want customers to bear the burden of dramatic price increases. Instead, Potter announced in March that pricing would be one in a series of solutions the Postal Service is pursuing to become financially sound.

“There is no one single solution to the dire financial situation that the Postal Service faces,” Potter said. “These proposed rate adjustments are moderate and part of a fair and balanced approach to insuring mail service for all Americans well into the future.”

Other actions outlined in March included changes to delivery frequency, restructuring prepayments of retiree health benefits, creating a more flexible workforce and expanding access to products and services to places more convenient to customers.

The Postal Service receives no tax dollars for operating expenses, and relies on the sale of postage, products and services to fund its operations.

Complete details of today’s filing can be found on usps.com . No prices will change before 2011.

One Response to Price Changes Coming and New Forever Stamp

  1. Jack

    July 8, 2010 at 10:25 am

    I think it is time for the Congress to take back control of the USPS from the Executive Corps who, despite their efforts, cannot seem to get a handle on how to turn the ship around. Rescind the Pay-for-Performance program,put all managers back on straight salary, and if they balk, give them the option of returning to the craft,if there are any jobs left for those who have destroyed the Postal Service as a government SERVICE to the American public. All that extra bonus money should be looked upon now as THEFT from the American public. And how about proceeding with prosecution of those managers and executives who set up sweetheart deals from their former colleagues in private industry…..it is about time to call out the scoundrels for what they are~! Do I really think this will happen? Not very likely, as the Congress is just about as corrupt and self-serving as the Postal Service. Perhaps the American public will see why it is time now to clean house in the Congress in these upcoming elections.

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