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: Partly Cloudy
Temperature: 27°
High: 31° - Low: 16°

Latest Headlines

4 hours ago in Viral Videos

Will Ferrell wants to be the new animal expert on ‘The Late Show’

15-overlay-7

Stephen Colbert's "The Late Show" doesn’t have an animal expert yet, so why shouldn’t it be Will Ferrell?

9 hours ago in Entertainment

The pouting male models are back for ‘Zoolander 2’

25-overlay-1

Derek and Hansel are back.

9 hours ago in Music

Kelly Clarkson teases top-secret new project with adorable daughter

16-overlay-8

It was a mother-daughter version of a "Super Bowl" ad.