In a letter, the postmaster general told Congress, yesterday, that in order to mitigate losses the United States Postal Service needed to raise the price of stamps by as much as 5 cents.
That means stamps could cost 50 cents.
The New York Times reports that Patrick Donahoe also said that if it didn't raise postage prices and slow first-class mail by one day, the service could lose up to $18.2 billion a year by 2015.
After asking for a five-month moratorium in December, Congress has been relatively quiet so far on how it hopes to fix the economically troubled U.S. Postal Service.
There may be six shopping days left until Christmas, but there’s only a few shipping days left for those packages to arrive in time.
The U.S. Postal Service has voluntarily agreed to delay the closing of 252 mail processing centers and 3,700 local post offices until mid-May.
Colorado Democratic Senators Michael Bennet and Mark Udall today called for a 6-month moratorium on recent proposed closures by the U.S. Postal Service so Congress can establish more “comprehensive” reform.