The Postal Service wants to raise the price of stamps again - this time to by $0.03 to $0.43 for a first-class stamp. You may remember that the post office recently raised stamp prices, but those rate increases were done so the post office could place about $3 billion in an escrow account which was required by law. To take effect, the new increases need to be approved by the independent Postal Rate Commission. If the new postal increases are accepted, they will take effect in May of 2007.
The new stamp increase would be to offset increases in cost increases the post office has incurred. For example, every penny increase in gasoline prices results in an $8 million increase in operating costs for the post office.
The post office has also come up with the idea of a "Forever Stamp" The idea would be that once a forever stamp is purchased, it can be used to send a first class letter at any time. Even if stamp prices increase in the future, the forever stamp would still be valid for sending a first class letter without paying any additional money. This is a proposal to help individuals and businesses hedge against future increases in postal rates.
For information on how you can purchase stamps at below face value, see our article
Discount Postage Stamps
Forever Stamp - New Post Office Proposal
