Price of a postage stamp set to… decrease? Seriously?

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

NEW YORK — For the first time in nearly 97 years, the price of a stamp is set to go down.

On April 10, a first-class stamp will cost 47 cents, down from its current 49-cent price.

The reduction is part of a pre-arranged agreement with Congress. The Post Office got to increase the price of stamps by 3 cents in 2014 to help it raise $4.6 billion in revenue. But the price hike was only set to last two years. (It gets to keep one cent of the increase to keep up with inflation).

The Post Office is practically begging Congress to let it keep stamps at 49 cents. It says rolling back prices to 47 cents will cost the already badly bleeding Post Office $2 billion a year.

“Removing the surcharge and reducing our prices is an irrational outcome considering the Postal Service’s precarious financial condition,” said Postmaster General Megan Brennan in a prepared statement. “Our current pricing regime is unworkable and should be replaced with a system that provides greater pricing flexibility and better reflects the economic challenges facing the Postal Service.”

Congress has pegged stamp price increases to inflation, which has barely budged over the past decade.

The Post Office is still reeling from the Great Recession, when its sales fell by $7 billion in 2009 alone. The Postal Service says that package volume is way up over the past few years, but it’s “not nearly enough to offset the decline in revenues” from first-class mail.

Standard mail, such as first-class letters and postcards, make up 76% of the Postal Service’s sales — all of which have prices capped by Congress.

Postcard stamp prices will drop by a penny to 34 cents, and international stamps will cost $1.15, down from $1.20.

There’s hardly anyone alive who remembers the last time the price of a stamp fell. That was in July 1919, when first-class stamp prices dropped from 3 cents to 2 cents.

About FOX 2 News

FOX 2 and KPLR 11 in St. Louis cover the news in Missouri and Illinois. There are over 68 hours of live news and local programming on-air each week. Our website and live video streams operate 24/7. Download our apps for alerts and follow us on social media for updates in your feed.

President Harry Truman said: “It is amazing what you can accomplish if you do not care who gets the credit.” That spirit is alive and well at Fox 2. Our teamwork is on display each and every day.

Our news slogan is: “Coverage You Can Count On.” We quite frankly are too busy to worry about who gets the credit. Our main concern is serving the viewer.

We go where the stories take us. Whether it be Washington, D.C when a Belleville man opened fire during a congressional baseball game practice or to Puerto Rico where local Ameren crews restored power after more than 5 months in the dark.

Coverage You Can Count On means “Waking up your Day” with our top-rated morning show. From 4:00 am-10:00 am we are leading the way with breaking news. But our early morning crew also knows how to have some fun! Our strong commitment to the communities we serve is highlighted with our Friday neighborhood shows.

Our investigative unit consists of three reporters. Elliott Davis focuses on government waste, Chris Hayes is our investigative reporter, and Mike Colombo is our consumer reporter. They work in unison with the news department by sharing resources and ideas.

We continue to cover breaking news aggressively and relied on our seasoned journalists to make a difference with the stories we covered. The shooting of Arnold Police Officer Ryan O’Connor is just one example of that. Jasmine Huda was the only reporter who had exclusive access to the O’Connor family during his amazing rehabilitation in Colorado.

Last, but certainly not least, FOX 2 and KPLR 11 are committed to covering local politics. We host debates among candidates and have the most extensive presidential election coverage. Our commitment to politics isn’t just during an election year. We produce two political shows that air every weekend.

Popular

Latest News

More News