The US Postal Service seeks the biggest price jump on stamps in history. It wants to increase the price of a first-class stamp from 50 cents to 55 cents. The agency is getting heat from the Trump administration to do something about its sagging revenues. Its losses have been mounting, dragged down by a drop in overall mail volume because of the internet and a requirement to pre-fund the cost of retiree health benefits. The price hike will have to be OK’d by the Postal Regulatory Commission.
Source:CNN News
