Stamps might drop two cents in April

FORT WAYNE, Ind. (WOWO): For the first time in 97 years, stamp prices could drop next month.

The current price for a stamp is 49-cents, a first-class stamp is set to cost 47-cents starting April 10, according to CNN money.

The reduction is part of an agreement with Congress. In 2014, the United States Postal Service was allowed to increase the price by 3 cents to help raise $4.6 billion in revenue, but the hike was only arranged for two years.

USPS is asking Congress to maintain the current price. If the price drops, USPS says it could lose $2 billion per year.

The Post Office is still hurting from the Great Recession. In 2009, its sales fell by $7 billion.


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