NEW POSTAGE RATE HIKE ANNOUNCEMENT “IMMINENT”

WASHINGTON, DC — U.S. Postmaster General Louis DeJoy told the virtual MTAC meeting held on January 26 that announcement on a second round of postage rate hikes in 2021 is “imminent.”

“As you know, the Board of Governors will determine the timing of future pricing increases and no decisions have been made at this time,” DeJoy said. “However, as I have previously stated, last year we charged $70 billion for services that cost us $80 billion to provide. We cannot continue down this path and think that we will remain a viable service to the American people.”

“Our losses need to be addressed,” he said. “And while not the only action required, we must consider our new pricing authority as an important part of the solution we will be proposing. That is why our regulator granted it to us.”

Asked when an announcement would be made, the PMG replied, “I think it’s imminent, but I don’t have a firm date yet.”

What could those hikes look like? Click to read more