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The US Postal Service is seeking a record increase in the price of stamps as President Donald Trump continues to put pressure on a shortfall.
According to the proposal, the cost of a Forever stamp, or the sending of a letter of an ounce, would increase from 50 to 55 cents. This is the largest increase in history, surpassing the increase of 4 cents from 1991 to 29 cents.
If it is approved, it will be the third consecutive annual increase. The number of stamps increased from 49 to 50 cents on January 21st of this year. (Two years ago, the USPS actually lowered the price of the stamp from 49 to 47 cents.)
The request, issued by the USPS Board of Directors, must first be approved by the Postal Regulatory Commission. If they are approved, as expected, the new rates will come into effect on January 27, 2019.
"Governors believe that these new rates will allow the postal service to remain competitive while providing the agency with the necessary revenue," the USPS said in a press release, adding that the agency does not received no tax on its operating expenses.
The post office, which is generally far removed from politics, has been at the center of the storm this year as Trump publicly murmurs about the shipping rates that Amazon pays to USPS, personally inviting US Postmaster Megan Brennan to double its rates in May. (Brennan refused.)
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