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Might want to start investing in some forever stamps because it could cost nearly half a buck to mail a letter next year.
The post office seeking to raise the price of first class postage by three cents to a total of 49 cents.
Postmaster general Patrick Donahue testified before a senate committee that the hike is necessary.
We did not want to take this step we have little choice to our current financial condition.
This proposed rate increase would provide an extra two billion dollars a year and must be approved by the postal regulatory commission before going into effect.
We had to file yesterday in order make a rate changed in in in January.
And we were view we buy fuel every day of the person changes the price of the flick of the switch that's not a good environment to be and if you're trying to fight for your lives.
Donna is asking congress for help without delay because the post office expects to lose six billion dollars by the end of December.
He's supporting the bill that calls for other changes including the end of Saturday delivery -- a reduction in health care costs.
The Postal Service currently pays five point six billion dollars annually toward benefits for future retirees.
But it missed two payments last year and will most likely be unable to make another payment at the end of the month a house committee is already approved legislation that would bring about those very same changes.
In Washington Carl Cameron Fox News.
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