For the first time in nearly 100 years, the price of US postage stamps has been reduced. Starting Sunday, April 10, 2016, the price of postage stamps will decrease from 49 cents to 47 cents. While 2¢ may not sound like a lot, the US Postal Service predicts that they will lose an estimated $2 billion per year from this change! If you do the math, that's the revenue difference from 100 billion stamps.
The price reduction falls just before Tax Day. The deadline to file income taxes in the United States is on April 18 this year.
A Congressional Act in 2013 allowed for the US Postal Service to add a surcharge to boost their revenue. The expiration date of the act on April 10 will force the USPS to go back to inflation-based increases.
This is the first time stamps have gone down in price since Woodrow Wilson was president 97 years ago in 1919! Back then, prices fell from a whopping 3¢ down to 2¢.
Here is how First-Class Mail prices will be changed according to the US Postal Service:
Current Mandated Reduction