Contact Us

Are You Ready to Pay 50 Cents for a Stamp? — Dollars and Sense

USPS
Justin Sullivan, Getty Images

Facing huge budget shortfalls, the United States Postal Service has proposed solutions including closing hundreds of post offices and eliminating Saturday deliveries. Now it may be considering jacking up the price of stamps, too.

The popularity of internet services like online bill pay have led in part to a 1.7 percent decline in mail volume, causing the USPS to anticipate losing $14.1 billion in 2012 — with bigger losses expected in the years to come.

In response, postal officials sent a letter to Congress last Thursday in which they recommended several changes, including the possibility of increasing the price of a stamp from its current 45 cents up to 50 cents. While stamp prices have gone up four times since 2006, chief financial officer Joe Corbett said, “Clearly, we’re [still] underpriced [and] would like the ability to move that price up.”

The USPS says the extra nickel, which would likely be added in one or two-cent increments until 2015, would raise revenues by $1 billion annually. Although taxpayers don’t foot the bill to keep the postal service running, Postmaster General Patrick Donahoe told Congress that failing to help the organization limit its losses would result in a “long-term burden to the American taxpayer.”

[Time]

More From NewsTalk 1290

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://newstalk1290.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on NewsTalk 1290 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on NewsTalk 1290 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!