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New Stamp Wouldn't Need a Rate Upgrade

A proposal being considered by the U.S. Postal Service would create a new "forever stamp." The product would allow customers to buy a first class stamp that would suffice for postage -- no matter what rate increases come along. Michele Norris talks with Stephen Kearney, vice president of pricing at the U.S. Postal Service.

Under the plan, no matter how many more pennies might be added to the price of a stamp, the original purchase price would be enough to get mail delivered. Planners say postal service customers would welcome the chance to avoid adding 2- and 3-cent stamps to adjust for rate increases. The "forever" stamps would always sell at the going rate for an ounce of first-class mail.

The Postal Rate Commission is reviewing the plan.

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