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

in Music

Motley Crue stars mock Justin Bieber’s antics

Fresh
vinceneilnikkisixx

Vince Neil and Nikki Sixx say the "Baby" hitmaker's attempts to be a "bad boy" are lame.

in Entertainment

Uncle Jesse spearheading ‘Full House’ reboot

fullhouse

John Stamos wants to bring the hit sitcom back to TV.

in Entertainment, Sports

CBS Sports to air all-women sports talk show

cbssports

CBS said Tuesday the weekly hour-long, prime-time program on the cable channel will be the first of its kind.

in Music

Neil Young files for divorce

neilyoung

The rocker is ending his 36-year marriage.

in Entertainment

Mike Epps confirmed to play Richard Pryor

epps

The long-awaited biopic appears to be moving forward with some big casting news just announced.