The proposed first-class stamp – aka the forever stamp – price hike is part of a series of changes that would additionally boost the price of a postcard from 29 cents to 32 cents and also raise the cost of sending international letters, standard mail, packages and periodicals.
“The overall average price increase is small and is needed to help address our current financial crisis,” Postmaster General Patrick Donahoe explained in a statement to the press. “We continue to take actions within our control to increase revenue in other ways and to aggressively cut costs. To return to sound financial footing we urgently need enactment of comprehensive, long-term legislation to provide the Postal Service with a more flexible business model.”
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