USPS May Raise Cost of First Class Stamp to 49 Cents

Attention all Buford residents who still use the U.S. Postal Service to mail your letters and packages, the price of a first class stamp could go up to 49 cents by early next year. And the cost to mail packages and postcards would go up too.

The U.S. Post Office says the proposed increase is due to drop in volume and the need to fund the future retirement benefits of postal workers mandated by Congress.

The Postal Service posted a $15.9 billion net loss last fiscal year and expects to record a loss of $6 billion in the current fiscal year, due largely to pre-funding payments for retiree health benefits according to a report in USA Today.

In the year 2000, the cost of a first class stamp was 33 cents.