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VOL. 41 | NO. 18 | Friday, May 05, 2017

Postal Service, citing losses, seeks higher stamp prices

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WASHINGTON (AP) — The U.S. Postal Service is hoping it can soon raise stamp prices by a penny or more.

The postal service on Wednesday reported a quarterly loss of $562 million. The loss was blamed om continued erosion in the use of first-class mail as well as expensive mandates for its retiree health care obligations.

It also attributed losses to a forced reduction in stamp prices last year.

The postal service notched double-digit growth in its package business. But that wasn't enough to offset losses in both first-class mail and junk mail.

Legislation passed by a House committee would relieve the postal service of expensive pre-funding requirements and allow a one-cent increase in the price of a first-class stamp. The postal service is urging congressional action soon.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0