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Postal Service forecasts ‘much-needed revenue’ from approved rate hike | FederalNewsRadio.com

“Making these payments in full or in part would have left us with insufficient cash on hand to ensure that we will be able to cover our current and our anticipated operating costs, make necessary capital investments and have adequate liquidity,” Corbett said.

Amid the harsh reality of the Postal Service’s financial situation, Brennan also thanked the Postal Regulatory Commision, USPS’ oversight board, for approving the agency’s proposal to increase prices for a number of its products next year. Effective Jan. 21, 2018, the Postal Service will raise the price of a first-class postage stamp to 50 cents — an increase of 1 cent — and will introduce an across-the-board 5-cent increase on flat-rate postal products.

Brennan said the new pricing structure will provide the Postal Service with “much-needed revenue to help fund our operations.”

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Postal Service forecasts ‘much-needed revenue’ from approved rate hike – FederalNewsRadio.com.

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