Rise in Mail Volume and Postal Costs
President's Call for Postage Rate Increase
A postage rate increase that would produce $700 million in additional revenue on an annual basis was proposed by President Johnson, January 24, in his message to Congress on the budget for the fiscal year 1968. If approved by Congress, higher rates for all classes of mail except second class and bulk rate third class would go into effect at the start of the new fiscal year on July 1, 1967. The remaining increases would become effective on Jan. 1, 1968. Postal expenditures for fiscal 1968 are currently estimated at more than $6.6 billion.
A general rate increase is needed because the U. S. Post Office, which handles more than one-half of the world's ...