The federal interest bill reaches a $1.35 trillion pace
June's $185 billion interest payment was the largest month in the series, and the trailing-year total has grown 59 percent in three years.
The June print
The Treasury paid $185.2 billion of interest in June 2026, the largest single month in the series and 28 percent more than the $144.6 billion it paid in June a year earlier. June is always a heavy month for interest, which is exactly why the year-over-year comparison is the one to watch: same seasonal peak, much bigger number.
The trailing year
Summing the last twelve months takes the annual interest bill to $1.35 trillion. Three years ago, over the twelve months through June 2023, it was $0.85 trillion. That is a 59 percent increase in the carrying cost of the debt in three years, and it happened without any single dramatic month: old, cheap debt keeps maturing into today's rates.
What to watch
The average interest rate on the outstanding stock is still repricing upward as the Treasury rolls maturing debt, so the bill can keep growing even if market yields go nowhere. The monthly series above updates automatically as Fiscal Data publishes; the next heavy month is December.
Kitegraph Insights (2026). The federal interest bill reaches a $1.35 trillion pace. kitegraph.com/insights/federal-interest-bill. Data: U.S. Treasury.