20-cent stamp still sought by Postal Service board

The US Postal Service's Board of Governors has again asked the postal Rate Commission to raise the price of a first-class stamp to 20 cents, rejecing the commission's recommendation that the rate stay at 18 cents.

The decision followed nearly four hours of meetings by the board, which contends the Postal Service was in serious financial trouble almost as soon as the 18-cent rate went into effect March 22.

If the commission rejects the latest request for more money, the Board of Governors could independently vote to impose higher postal rates.