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Post Office To Request Two-Cent Rate Increase

If the United States Postal Service (USPS) gets its way, the cost of mailing a first-class letter will increase by two-cents next year. The USPS announced Tuesday that, if approved by the Postal Rate Commission, the price of a first-class stamp would increase to 46 cents beginning Jan. 2. The Postal Rate Commission has 90 days to respond to the rate increase request.

The current 44-cents rate went into effect in May 2009.

Postal officials said the USPS is facing a $7 billion loss in 2011, and the rate increase would raise an estimated extra $2.5 billion. They also are looking at the possibility of eliminating Saturday mail delivery to save money, but that would have to be approved by Congress.

Postal officials said if the rate was increased to 46-cents, the “Forever” stamps still would be valid.