NBC RIGHT NOW - The financially ailing United States Postal Service says it will raise the price of mailing a letter, increasing the cost of a first-class stamp to 49 cents.
The USPS Board of Governors says the increase is the result of the agency's financial condition and the uncertain prospects for postal overhaul legislation in Congress.
The Postal Service expects to lose $6 billion this year, last year it lost $16 billion.
The Postal Regulatory Commission will need to approve of the stamp price increase request. USPS says it will ask to adjust bulk mail rates later this week.