News Summary: Postal rate hike plan faces scrutiny

News Summary: Postmaster blames money woes for rate hike request

Associated Press

SPEAKING OUT: Postmaster General Patrick Donahoe says the Postal Service had to ask for an emergency rate hike given its dire finances, and he urged Congress to overhaul the Postal Service and fix its finances.

BEHIND THE NUMBERS: The post office expects to lose $6 billion this year. It wants to raise stamp prices by 3 cents next year, to 49 cents. The request must be approved by the independent Postal Regulatory Commission.

OTHER PROPOSALS: Donahoe appeared before a Senate committee to seek approval of legislation that would end Saturday delivery after one year and cease door-to-door delivery for new residential and businesses addresses. Many lawmakers and postal worker unions say the delivery changes would inconvenience customers.

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