The United States Postal Service announced
this past Thursday, that they will lose approximately $2 billion in annual revenue resulting from a price reduction mandated by the PRC (Postal Regulatory Commission) and will go into effect on Sunday, April 10, 2016.
The PRC granted an exigent surcharge beginning in January 2014 on mailing products and services totaling $4.6 billion to recover for the massive volume and revenue losses resulting from the Great Recession. However, this amount only partially offsets Postal Service revenue losses — which the Postal Service estimates exceeded $7 billion in 2009 alone.
Among other proposals, the Postal Service continues to seek congressional action to reinstate and make the exigent surcharge permanent.
The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.
The surcharge removal means these First-Class Mail prices will be reduced to the following beginning April 10:
|• Letters (1 oz.)
|• Letters additional ounces
|• Letters to all international destinations
Commercial prices will also decrease. A complete listing of the new pricing is vailable at www.usps.com.