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Postage Rate Hike Effective Today
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As I mentioned last Monday, the postage rate hike will come into effect today with the first-class letter rate going up from 37 cents to 39 cents, the first hike since 2002. The interesting part is that the hike is to help fund a congressionally mandated reserve fund, the purpose of which still has yet to be decided despite their own rule requiring its purpose to be decided within 180 days (surprise surprise). Incidentally, the USPS generated a profit of $1.4 billion on operating revenues of $69.9 billion of revenue.
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Great reminder. Just posted my views on the postal rate hike on my blog.