(WASHINGTON, D.C.) - The cost of mailing a letter could soon go up again as the U.S. Postal Service faces a growing financial crisis.
Postal officials say first-class stamps, currently 78 cents, could rise to one dollar or more as the agency struggles with mounting losses.
Leaders warn the Postal Service could run out of cash within the next year without major changes.
The agency has already hit its $15 billion borrowing limit and continues to deal with declining mail volume and rising long-term costs.
Officials say options on the table include raising prices, cutting delivery to five days a week, or closing some post offices--moves that could face pushback.