US postage stamps have decreased in cost.
As of April 10, 2016, for the first time in nearly one hundred, the US postage stamp has dropped in price. The stamp is now 47 cents; two cents less than it was previously. However, it's not just letters that are getting a break. Postcards have also gone down by one cent to 34 cents, and international postage has decreased by five cents to $1.15.
The drop in pricing comes from expired legislation. In 2014, the US government has passed a law that raised the price of stamps for two years. It was thought that the increase would help to alleviate some of the financial struggles that the postal service has undergone in recent years. As part of the legislation, stamp prices were increased by three cents to help generate $4.6 billion for the government organization. As the price of postage decreases, however, it only decreases by two cents instead of the original three. The difference in cents accounts for inflation.
The increase in postage costs only partially generated enough funds to help alleviate the financial woes of the US Postal Service. According to the postal service, the drop in prices is expected to cost the department $ 2 billion per year.
The last time that stamp prices decreased was in 1919. The first-class stamp dropped in price from three cents to two cents.
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