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.

Portland Weather

condition Condition: Patchy light snow
Temperature: 29°
High: 40° - Low: 21°

Latest Headlines

in Entertainment

Jeff Bridges hopes his new album puts fans to sleep

Fresh
jeffbridges

"The Big Lebowski" star has released "Sleeping Tapes," a project full of spoken word pieces and meditation mantras.

in Music, Entertainment

Katy Perry promises lions, sharks, and some singing at Super Bowl halftime

Fresh
katyperry

An unnamed "old school" female singer will show up as a surprise performer in addition to Perry and rocker Lenny Kravitz.

in Music

Tim McGraw to step in for ailing Glen Campbell at Oscars

timmcgraw

Tim McGraw will perform the ailing star's "I'm Not Gonna Miss You" at the Oscars.