"WASHINGTON, D.C. - Beginning Sunday, April 10, the cost of a stamp will drop from 49 cents to 47 cents. That's the first price drop in nearly 100 years.
The price reduction is the result of a mandate by the Postal Regulatory Commission.
The U.S. Postal Service put out a press release Thursday expressing its displeasure with the mandate. Postmaster General and CEO Megan Brennan says the move will cost the USPS $2 billion in annual revenue.
"To properly compete for customers and continue to meet America's evolving mailing and shipping needs, the Postal Service needs the financial capability to invest in the future," says Brennan. "We continue to seek legislative reforms to put the Postal Service back on a sustainable financial path, and pricing is an important component."
Actually all first class postal rates will be reduced. I thought I posted about this earlier, but I couldn't find it.
Anyway, the USPS invoked the "exigent circumstance" clause in the law that governs postal rate increases. That's when we went from 46 cents to 49 cents in 2014. Such increases were never meant to be permanent, but USPS tried to make it permanent. Mailer's associations took USPS to court and won with the court affirming the intent of the law was for emergency, temporary rate increases. The USPS appealed, but lost.
Michael, you posted about the drop of the global rate from 120 to 115, but the first class drop caught me by suprise.
it's gonna kill me to use a 49c stamp on a 47c letter
i don't want to quote my wife but its something like Big _________ Deal !
Here's the thread I was probably thinking about with the exact information on the rate change. I probably didn't post to it as someone had provided a link to the Linn's article about it:
https://stamporama.com/discboard/disc_main.php?action=20&id=14069#105035
Did you guys see this announcement?
From WZRE.COM
"WASHINGTON, D.C. - Beginning Sunday, April 10, the cost of a stamp will drop from 49 cents to 47 cents. That's the first price drop in nearly 100 years.
The price reduction is the result of a mandate by the Postal Regulatory Commission.
The U.S. Postal Service put out a press release Thursday expressing its displeasure with the mandate. Postmaster General and CEO Megan Brennan says the move will cost the USPS $2 billion in annual revenue.
"To properly compete for customers and continue to meet America's evolving mailing and shipping needs, the Postal Service needs the financial capability to invest in the future," says Brennan. "We continue to seek legislative reforms to put the Postal Service back on a sustainable financial path, and pricing is an important component."
re: Stamps dropping in price by 2 cents
Actually all first class postal rates will be reduced. I thought I posted about this earlier, but I couldn't find it.
Anyway, the USPS invoked the "exigent circumstance" clause in the law that governs postal rate increases. That's when we went from 46 cents to 49 cents in 2014. Such increases were never meant to be permanent, but USPS tried to make it permanent. Mailer's associations took USPS to court and won with the court affirming the intent of the law was for emergency, temporary rate increases. The USPS appealed, but lost.
re: Stamps dropping in price by 2 cents
Michael, you posted about the drop of the global rate from 120 to 115, but the first class drop caught me by suprise.
it's gonna kill me to use a 49c stamp on a 47c letter
re: Stamps dropping in price by 2 cents
i don't want to quote my wife but its something like Big _________ Deal !
re: Stamps dropping in price by 2 cents
Here's the thread I was probably thinking about with the exact information on the rate change. I probably didn't post to it as someone had provided a link to the Linn's article about it:
https://stamporama.com/discboard/disc_main.php?action=20&id=14069#105035