USPS wants to raise the price of a first-class stamp as high as 95 cents

The U.S. Postal Service is seeking approval to raise the price of a first-class stamp to as high as 95 cents, according to Postmaster General David Steiner, who says the increase would "largely solve" the agency's persistent financial challenges. The USPS has faced years of mounting losses driven by declining mail volumes and the congressionally mandated prefunding of retirement benefits decades in advance. A stamp price increase of that magnitude would represent a significant jump from current rates and would be among the largest hikes in recent years. The proposal requires regulatory approval from the Postal Regulatory Commission. If approved, the increase would directly affect millions of Americans who rely on mail for bills, correspondence, and parcels.