U.S. Postal Service Dropping The Price Of A Stamp For The First Time In Nearly 100 Years

I just ran out of stamps, and I think I'm going to buy a bunch because, the U.S. Postal Service announced the price of a stamp is being lowered two cents beginning this week. 

A first-class stamp will now cost 47 cents. Postcards will drop from 35 cents to 34 cents, 2-ounce letter stamps will drop from 71 cents to 68 cents, and 3-ounce letters will drop from 93 cents to 89 cents. Commercial shipping rates will also be decreased. Stamps prices had stood at 49 cents for the last two years after the USPS lost revenue due to the 2008 recession.

Here's something I didn't know, the postal service is governed by the Postal Regulatory Commission, therefore is not governed federally. This means the postal service does not receive federal tax dollars and it must raise its own money. It will cost them $2 billion in revenue to lower postal rates.

The USPS said it will soon take steps toward congressional action to bring back the surcharge, thus, you may want to buy all the stamps you can. And if you have any "Forever" stamps, you will lose two cents of its value.

First-class letter rates were last lowered, in 1919.