First-class postage stamps could rise to 49 cents starting January 26, 2014. This is due to the combination $15.9 billion dollar net loss last fiscal year and the $6 billion dollar net loss for the current fiscal year by the United States Postal Service. The Postal Service estimates that the increase would raise about $2 billion in additional revenue each year it is implemented. Under the suggested plan, the first-class postage will rise 3 cents, or 6.5% as well as pricing for other forms of mail such as packages and postcards. Because of the steep percentage of increase, the rate hike will require approval from the Postal Regulatory Commission because rates cannot be raised over the rate of inflation, which is about 2% currently. The rate increase is supposedly temporary, likely to end in less than two years. A book of first-class stamps will cost $9.80, however, any and all Forever Stamps purchased before the rate increase will still be valid for all one-ounce letters.