(Washington, D.C.) The price of a first-class postage stamp could go up to 49 cents next year.
The U.S. Postal Service hopes the increase would raise about $2 billion in additional revenue a year.
First-class mail postage would rise 3 cents.
Prices for other mailing options would also change.
The Postal Service posted a $15.9 billion net loss last fiscal year and expects to record a loss of $6 billion in the current fiscal year, due largely to pre-funding payments for retiree health benefits.
The rate hike will require approval from the Postal Regulatory Commission because under federal law, rates cannot be raised over the rate of inflation, currently about 2%.