Postmaster General Patrick Donahoe told senators Thursday that the cash-strapped Postal Service had “little choice” in proposing to raise the price of mailing a letter to 49 cents.
Donahoe’s appearance Thursday before the Senate Homeland Security and Governmental Affairs Committee came one day after the post office said it wanted to raise the price of a first-class stamp by 3 cents. He’s pressing lawmakers to act quickly on legislation to fix his agency, which expects to lose $6 billion this year.
“We did not want to take this step, but we have little choice due to our current financial condition,” Donahoe told a Senate panel considering bipartisan legislation to overhaul the Postal Service.