Stamp Prices Are Set To Drop By 2 Cents


(PCM) Surprisingly in the day and age of technology where everything is sent via email or fax, snail mail, otherwise known as physically mailing a letter at the post office, is still alive, but at times barely kicking. The news has now been revealed that the U.S. Post Service will be dropping the price of stamps by 2 cents, however that will cause them to lose approximately $2 billion dollars per year. Beginning on April 10, the cost of a stamp for a letter weighing 1-ounce will drop from $0.49 to $0.47 and comes after the expiration of a deal between the U.S. Postal Service and Congress which forced the U.S. Postal Service to raise the prices of stamps by 3 cents. The raise in price for stamps assisted the U.S. Postal Service by bringing in an estimated $4.6 billion dollars, however with the agency being on a steady downward slope over the years the decision to slash the stamp prices down by 2 cents almost seems counterproductive as it will ended up costing them $2 billion in revenue. In a statement Postmaster General Megan J Brennan says “Removing the surcharge and reducing our prices is an irrational outcome considering the Postal Service‚Äôs precarious financial condition.”