Sep 30, 2010 11:17 AM
WASHINGTON (AP) - The independent panel that oversees the U.S.
Postal Service has denied the agency's request to increase the cost
of mailing a letter by 2 cents - to 46 cents.
The Postal Regulatory Commission announced its decision
rejecting the requested price hike at a news conference Thursday.
In July, the Postal Service proposed raising first-class postage
from 44 cents to 46 cents as part of a strategy for dealing with a
worsening financial crisis. The Postal Service lost $3.8 billion
last year, and the agency has been seeking other rate increases as
well, including higher fees for periodicals, post cards and
The new rates would have taken effect next Jan. 2.
6 hours ago