The U.S. Postal Service has proposed a rate increase, planning to raise the price of a first-class stamp from 73 cents to 78 cents starting July 13. The request was submitted to the Postal Regulatory Commission for approval. Other postage rates for items like postcards, metered letters, and international mail are also expected to increase. This adjustment would result in an overall 7.4% rise in mailing service prices.

The Postal Service argues that the rate hike is necessary to maintain financial stability. Former Postmaster General Louis DeJoy had previously indicated that such increases were essential due to a flawed pricing structure that had persisted for over a decade. He stepped down from his position in March, amid discussions about privatizing mail delivery by President Trump and Elon Musk’s Department of Government Efficiency.

Deputy Postmaster General Doug Tulino has assumed the role of postmaster general until a permanent successor to DeJoy is appointed by the Postal Service Board of Governors. Trump has contemplated transferring control of USPS to the Commerce Department in an effort to address financial losses at the agency, which has faced challenges in balancing its budget due to declining revenues from first-class mail.