For the First Time in 97 Years the Price of a Postage Stamp Will Decrease
The price of a postage stamp will decrease in April. A decrease in postage price has not happened in 97 years!
Stamps currently cost 49 cents and they will drop to 47 cents on April 10th. The decrease comes from the act that Congress passed back in 2013 which allowed the Postal Service to tack on a 4.3% surcharge to cover the losses due to the recession. The decrease will expire when the 4.3% increase accounts for $4.6 billion in revenue, which is set to be in April.
The Postmaster General and CEO, Megan Brennan says this will be a disaster for the Postal Service. Brennan said "Removing the surcharge and reducing our prices is an irrational outcome considering the Postal Service’s precarious financial condition." in a release.
The decrease in price is not only for domestic stamps. Other postage decreases include letters to international destinations, postcards and commercial prices. Here is to hoping you didn't buy too many of those forever stamps at 49 cents a piece!
Source: Business Insider