USPS seeks to raise the price of a Forever stamp to 78 cents: Here's when it could happen
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What to know about cost-cutting changes to USPS
The U.S. Postal Service is undergoing changes to increase efficiency and cut costs. Here's how it could impact you.
The U.S. Postal Service proposed a handful of price increases last week, including a 5-cent increase for Forever Stamps, that could into effect this summer.
The changes would begin on July 13 if approved by the Postal Regulatory Commission (PRC), the federal agency that oversees the postal service.
Changes would increase mailing service product prices by 7.4%, the postal service said in a news release.
The full list of proposed price increases includes:
First-Class Mail Forever stamp – 73 cents to 78 cents
Additional-ounce price for single-piece letters – 28 cents to 29 cents
Domestic postcards – 56 cents to 62 cents
Letters (metered 1 ounce) – 69 cents to 74 cents
Letters (1 ounce) – 73 cents to 78 cents
International postcards – $1.65 to $1.70
International letter (1 ounce) – $1.65 to $1.70
According to the postal service, postal insurance would be reduced by 12%.
'As changes in the mailing and shipping marketplace continue, these price adjustments are needed to achieve the financial stability sought by the organization's Delivering for America 10-year plan. USPS prices remain among the most affordable in the world,' the postal service said in the news release.
Price increases are due in part to proposals to eliminate marketing and bulk services
The increases are also an attempt to eliminate bound printed matter, or the postal service's program for permanently bound sheets where at least 90% are printed with advertising, editorial, or promotional mail.
There is also a proposal to eliminate marketing mail, or the postal service's bulk mail service that allows businesses to send large volumes of advertising and promotional materials.
The eliminations still need to be approved by the Postal Regulatory Commission, the postal service said.
Postal service says 10-year plan will save $36 billion in 10 years
The price increases are just a few of the changes the postal service has undergone recently.
The postal service has also been impacted by President Donald Trump's federal cost-cutting efforts, led by the Department of Government Efficiency. Changes that went into effect this month are part of a 10-year 'Delivering for America" plan that includes cutting jobs, electric delivery trucks to replace current trucks that continuously break down, and slower delivery for some rural customers.
The postal service has also announced service changes that it claims will save the agency $36 billion over a decade. Most mail will be delivered in the same amount of time, while others may take a slightly slower or faster delivery time, the postal service said on its website.
"For First-Class Mail, the current service standard day range of 1-5 days is staying the same, while the day ranges for end-to-end Marketing Mail, Periodicals, and Package Services are being shortened," the postal service announced.
USPS changes to mail delivery: What we know about faster and slower deliveries
How have mailing costs increased over time?
One popular product impacted by the increases are Forever Stamps, which the postal service first issued in April 2007. The stamp has no expiration date and was introduced to make the transition from one stamp cost to the next a much smoother process, the postal service said.
In 2007, the stamp cost 41 cents. If the increases are approved, the stamps will be sold for 78 cents – a 90.24% increase in 18 years.
The postal service's current prices went into effect on January 19, the agency said on its website. Changes included both reductions and increases. Rates for priority mail, for example, dropped by 5.7%, with some decreasing up to $10.50.
The priority mail flat rate also decreased by about 1.7% beginning in January.
A full list of the changes going into effect in July can be found at www.usps.com.
Contributing: Trevor Hughes, Claire Grant, Eric Lagatta, and Mike Snider
Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Email her at sdmartin@usatoday.com.
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