News

It’s going to cost more to mail that letter

It’s going to cost more to mail that letter

The USPS says it needs to increase the cost of a first-class stamp. Photo: Associated Press

WASHINGTON (AP) — The financially ailing Postal Service is seeking a 3-cent increase in the cost of mailing a letter — and that would raise the price of a first-class stamp to 49 cents.

The chairman of the postal Board of Governors, Mickey Barnett, cites the “precarious financial condition” of the agency and the uncertain prospects for postal overhaul legislation in Congress.

The agency expects to lose $6 billion this year.

Wednesday’s request for the increase in stamp prices must be approved by the independent Postal Regulatory Commission.

The Postal Service said it would ask for adjustment to bulk mail rates in a filing with the commission Thursday. No details were immediately provided.

Media and marketing businesses say a big increase in rates could hurt them and lower postal volume and revenues.

Recent Headlines

yesterday in Music

William Hurt exits George Allman biopic

williamhurt

The actor has pulled out of "Midnight Rider," two months after a camera assistant died while filming a scene.

yesterday in Viral Videos

It’s not Pitbull, it’s Amy Poehler

amy

Do you think she fooled anyone?

yesterday in Music

Housing complex named after Bon Jovi

jbj

A housing complex in Pennsylvania now bears rocker Jon Bon Jovi's initials.

yesterday in Music

Led Zeppelin back with ‘Whole Lotta’ unreleased tunes

led

The rock legends will publish a number of unreleased tracks, including an alternate version of "Whole Lotta Love."

yesterday in Trending, Viral Videos

TODAY’S MUST SEE: Brian Williams raps ‘Gin & Juice’

birna

After he leaves the "NBC Nightly News," Brian Williams might have a future in music.