--- kind: "section" citation: "31 U.S.C. § 3130" title: "31" title_heading: "Money and Finance" number: "3130" heading: "Annual public debt report" release: "119-102" date: "2026-07-12" url: "https://uscodex.org/usc/31/3130" units: - "Subtitle III — Financial Management" - "Chapter 31 — Public Debt" - "Subchapter II — Administrative" --- # §3130. Annual public debt report - (a) **General Rule.—** On or before June 1 of each calendar year after 1993, the Secretary of the Treasury shall submit a report to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate on— - (1) the Treasury’s public [debt](/usc/31/3701.md?p=b-1) activities, and - (2) the operations of the Federal Financing Bank. - (b) **Required Information on Public Debt Activities.—** Each report submitted under [subsection (a)](#a) shall include the following information: - (1) A table showing the following information with respect to the total public [debt](/usc/31/3701.md?p=b-1): - (A) The past levels of such [debt](/usc/31/3701.md?p=b-1) and the projected levels of such [debt](/usc/31/3701.md?p=b-1) as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch. - (B) The past [debt](/usc/31/3701.md?p=b-1) to GDP ratios and the projected [debt](/usc/31/3701.md?p=b-1) to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection. - (2) A table showing the following information with respect to the net public [debt](/usc/31/3701.md?p=b-1): - (A) The past levels of such [debt](/usc/31/3701.md?p=b-1) and the projected levels of such [debt](/usc/31/3701.md?p=b-1) as of the close of the current fiscal year and as of the close of the next 5 fiscal years under the most recent current services baseline projection of the executive branch. - (B) The past [debt](/usc/31/3701.md?p=b-1) to GDP ratios and the projected [debt](/usc/31/3701.md?p=b-1) to GDP ratios as of the close of the current fiscal year and as of the close of the next 5 fiscal years under such most recent current services baseline projection. - (C) The interest cost on such [debt](/usc/31/3701.md?p=b-1) for prior fiscal years and the projected interest cost on such [debt](/usc/31/3701.md?p=b-1) for the current fiscal year and for the next 5 fiscal years under such most recent current services baseline projection. - (D) The interest cost to outlay ratios for prior fiscal years and the projected interest cost to outlay ratios for the current fiscal year and for the next 5 fiscal years under such most recent current services baseline projection. - (3) A table showing the maturity distribution of the net public [debt](/usc/31/3701.md?p=b-1) as of the time the report is submitted and for prior years, and an explanation of the overall financing strategy used in determining the distribution of maturities when issuing public [debt](/usc/31/3701.md?p=b-1) [obligations](/usc/31/3801.md?p=a-11), including a discussion of the projections and assumptions with respect to the structure of interest rates for the current fiscal year and for the succeeding 5 fiscal years. - (4) A table showing the following information as of the time the report is submitted and for prior years: - (A) A description of the various categories of the holders of public [debt](/usc/31/3701.md?p=b-1) [obligations](/usc/31/3801.md?p=a-11). - (B) The portions of the total public [debt](/usc/31/3701.md?p=b-1) held by each of such categories. - (5) A table showing the relationship of federally assisted borrowing to total Federal borrowing as of the time the report is submitted and for prior years. - (6) A table showing the annual principal and interest payments which would be required to amortize in equal annual payments the level (as of the time the report is submitted) of the net public [debt](/usc/31/3701.md?p=b-1) over the longest remaining term to maturity of any [obligation](/usc/31/3801.md?p=a-11) which is a part of such [debt](/usc/31/3701.md?p=b-1). - (c) **Required Information on Federal Financing Bank.—** Each report submitted under [subsection (a)](#a) shall include (but not be limited to) information on the financial operations of the Federal Financing Bank, including loan payments and prepayments, and on the levels and categories of the lending activities of the Federal Financing Bank, for the current fiscal year and for prior fiscal years. - (d) **Recommendations.—** The Secretary of the Treasury may include in any report submitted under [subsection (a)](#a) such recommendations to improve the issuance and sale of public [debt](/usc/31/3701.md?p=b-1) [obligations](/usc/31/3801.md?p=a-11) (and with respect to other matters) as he may deem advisable. - (e) **Definitions.—** For purposes of this section— - (1) **Current fiscal year.—** The term “current fiscal year” means the fiscal year ending in the calendar year in which the report is submitted. - (2) **Total public debt.—** The term “total public [debt](/usc/31/3701.md?p=b-1)” means the total amount of the [obligations](/usc/31/3801.md?p=a-11) subject to the public [debt](/usc/31/3701.md?p=b-1) limit established in [section 3101 of this title](/usc/31/3101.md). - (3) **Net public debt.—** The term “net public [debt](/usc/31/3701.md?p=b-1)” means the portion of the total public [debt](/usc/31/3701.md?p=b-1) which is held by the public. - (4) **Debt to gdp ratio.—** The term “[debt](/usc/31/3701.md?p=b-1) to GDP ratio” means the percentage obtained by dividing the level of the total public [debt](/usc/31/3701.md?p=b-1) or net public [debt](/usc/31/3701.md?p=b-1), as the case may be, by the gross domestic product. - (5) **Interest cost to outlay ratio.—** The term “interest cost to outlay ratio” means, with respect to any fiscal year, the percentage obtained by dividing the interest cost for such fiscal year on the net public [debt](/usc/31/3701.md?p=b-1) by the total amount of Federal outlays for such fiscal year. ## Source credit (Added Pub. L. 103–202, title II, § 201(a), Dec. 17, 1993, 107 Stat. 2355.)