Postal service seeks 50-cent first-class stamp

First-class-stamp prices will increase to 50 cents if U.S. Postal Service gets it way.

USPS made the request last week in a letter to Congress. Without the 5-cent price jump, taxpayers likely would have to pick up more of the tab for the organization’s spiraling deficit, USPS says. Of course, if stamp prices increase, consumers still will shoulder some of the burden.

USPS says it will record an estimated $18.2 billion in losses by 2015 if it doesn’t raise the price of stamps and make other changes, Bloomberg reports. USPS estimates that the first-class-stamp price increase would raise $1 billion in new revenue.

In addition to stamp-price increases, USPS reiterated plans to eliminate Saturday delivery as a cost-cutting measure.

USPS reported $3.3. billion in losses for the 2011 fourth quarter.