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Post office plans to announce new rate increase

Jul 6, 2010 3:10:00 AM - thestate.com
Battered by massive losses, the Postal Service wants to raise rates to bring in more money.

Postal officials scheduled a briefing Tuesday to discuss the amount of the increase, which will go to the independent Postal Regulatory Commission for review.

The boost comes as no surprise. Postmaster General John Potter said March 2 that a rate increase would be necessary for the agency, which does not receive tax funds for its operations.

The current 44-cent first-class rate took effect May 11, 2009.

While that change will be the most visible, rates for other types of mail will also go up, raising concern among business groups and nonprofit organizations.

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