US POSTAL SEEKING RATE INCREASES - Congress Stalemated Over Fixing Postal Service

(09/27/2013)

It will soon could cost 49 cents to mail a letter, up three cents. US Postal says the increase is to relieve the "precarious financial condition" of the agency and the uncertain prospects for postal overhaul legislation in a stalemated Congress. "Of the options currently available to the Postal Service to align costs and revenues, increasing postage prices is a last resort that reflects extreme financial challenges," said board chairman Mickey Barnett. If approved, the increase would go in effect Jan. 26. The Postal Service also said it would request price increases totaling 5.9 percent for bulk mail, periodicals and package service rates.

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