US Post Service May Raise Prices

The US Postal Service announced a ten-year plan that will raise prices and make longer delivery times as declining mail volume has resulted in billions of dollars in losses.

First Class mail will be delivered within five days instead of three days, the cost of postage will increase, and hours at post offices around the country will be cut.

"Does it make a difference if it's an extra day to get a letter?" Postmaster General Louis DeJoy told the House Oversight and Reform Committee. "Because something has to change. We cannot keep doing the same thing we're doing."

The plan also calls for investing $4 billion to modernize the Postal Service and includes plans to hire 11,000 new workers.

Photos by Getty Images

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