The costs for maintaining a secure and simple database which has been maintained now for almost 3 decades (that I can recall since I started owning and managing domains in 1993) should be declining and not increasing. You can make a case for increased security but give me a break ! At best you can raise for inflation but only from the lowest your rates ever were. ICANN has done a good job but there is no need to start screwing the industry and everyone involved (see the whole world) just because you can.
This amendment is monopolistic, greedy, a blatant conflict of interest with Verisign. It is unfair to hosting providers and it is unfair to users. It reflects poorly on ICANN and your mission.
There will be backlash. There will be consequences. Maybe there will be a new ICANN that doens't use Verisign. Then you'll have a real reason to raise rates to pay for the legal battles you'll be fighting with every country that uses the internet.