A first‑class stamp could soon cost nearly $1, as the U.S. Postal Service warns it may run out of money by 2027 and looks to raise prices to stay afloat.

During a Tuesday, March 17 appearance before Congress, Postmaster General David Steiner said the price of a first‑class stamp could rise to 90 to 95 cents, up from 78 cents.

Steiner said higher prices are one of the few options available as the agency faces mounting losses. Raising stamp prices to as much as 95 cents, he told lawmakers, “would largely solve our controllable loss.