BUFFALO, NY (WKBW) - A first-class postage stamp could soon rise to 49 cents starting next year under a proposal by the U.S. Postal Service.
The cash-strapped organization says it needs the extra money to balance the books.
If approved, the price of a stamp would jump by three cents in January.
"Instead of just asking for the Consumer Price Index rate increase which is about 1.5%, we are also asking for an emergency -- an exigent price increase which could result in a couple extra pennies." explained spokesperson for the post office in Buffalo, Karen Mazurkiewicz.
One way to avoid a possible increase, Mazurkiewicz said, is to invest in Forever Stamps. They are currently 46 cents and never expire.
The postal service is trying to deal with a $20 billion deficit.