The USPS is seeking to increase the price of first-class stamps to 49 cents from 46 cents, according to Web Pro News.
The postal service is planning a 3-cent increase, which would raise the price to 49 cents, in order to mail a letter. The proposal of this rate increase must be approved by the independent Postal Regulatory Commission. If accepted, the increase would take effect on January 26, 2014.
As a part of the request for the rate increase, the cost for each additional ounce of first-class mail would increase from one penny to 21 cents. Additionally, the price of mailing a postcard would rise by a cent, to 34 cents. The cost to mail a letter to an international destination would jump up to $1.15, an increase of 5 cents.
The New York Times mentions that according to federal law, the post office is not allowed to raise the price more than the rate of inflation, unless it gets the approval from the commission. The post office is also expecting to lose $6 billion this year and will be forced to look to Congress for assistance.
Several Americans have expressed their thoughts on Twitter. Kacey tweeted: "News story is stamps will increase from 46c to 49c. I better budget in that additional 12c I'll be out next year. Will Saletan tweeted: "Want a 6.5% return on your money in the next 4 months? Your best bet is... forever postage stamps."
An increase in rates could hurt media marketing and businesses that rely on postal services, and would likely lower postal volume and revenues. This is not the first time that they have tried to increase the rates and in fact sought an increase in 2010 unsuccessfully, blaming their results on the recession.
