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Proposal for Postal Service Rate Hike

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The cost of a letter would go up 3 cents, under a proposed postal rate hike. ABC's News reports the cost of a first-class stamp on a letter would go up 3 cents to 49 cents; post card stamps - up a penny more; prices for packages and other services - would also go up, starting next January, under this plan. The Postal Service says it expects the new rates will raise $2 billion in new revenues. The Postal Service lost almost $16 billion last year.


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