First price decrease for stamps in nearly a century

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NATIONAL -- Sending mail just cheaper. As of Sunday, the price of stamps is two cents lower. But it's not good news for the postal service.

It's going to cost them about $2 billion. The postal service says they didn't really have a choice. They've been relying on a surcharge to boost revenue since the recession last decade. The Postal Regulatory Commission says they've gotten enough relief and it's time to get rid of it.

 

On Sunday, sending a 1 ounce letter went from 49 cents to 47 cents. Any additional ounce will now be 21 cents instead of 22 cents. These are just a couple examples of the cuts.

Postal workers say it it's not a decision they agree with but they'll have to work with it. The postal service doesn't get any tax revenue from it's services. They rely totally on sales to stay afloat.

The last time the price of stamps was lowered was 1919, making this the third time in the country's history that's happened.

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