The Joint Economic Committee (JEC) released its July 2026 Monthly Debt Update, reporting that the total gross national debt reached $39.38 trillion as of July 3, 2026.
Debt held by the public totaled $31.68 trillion, while intergovernmental debt stood at $7.71 trillion.
According to the JEC, the nation’s debt has risen by $2.81 trillion over the past year and by $10.90 trillion over the past five years.
During the previous 12 months, the debt increased at an average pace of $7.71 billion per day, $321.15 million per hour, $5.35 million per minute, or $89,208.39 per second.
The annual increase equates to $8,204.76 per person and $20,814.36 per household, while total gross national debt now amounts to $115,188 per person and $292,217 per household.
Based on the average daily growth rate observed during the past three years, the United States is projected to surpass $40 trillion in gross national debt around October 2026. At the current pace, each additional trillion dollars of debt would accumulate in approximately 155 days.
The report also highlights the growing cost of servicing the federal debt. As of June 2026, the average interest rate on the total marketable national debt was 3.411% up from 3.375% one year earlier and 1.472% five years ago.
Over the past 12 months, the federal government paid $294.32 billion in interest to trust funds, averaging $24.53 billion per month.
According to projections from the Congressional Budget Office, net interest payments will account for 13.95% of federal outlays in FY26 rising to 14.25% in FY27, and 14.94% in FY28.
Treasury securities remain the primary component of publicly held debt. Of the $31.68 trillion in public debt outstanding, $16.06 trillion is held in notes, $6.69 trillion in bills, $5.45 trillion in bonds, and $3.49 trillion in other securities.
Treasury demands remain robust, with June 2026 bid-to-cover ratios of 2.72 for four-week bills, 2.40 for 10-year notes, and 2.30 for 30-year bonds.
Approximately 33% of publicly held marketable debt is scheduled to mature within the next 12 months, while the average maturity of marketable debt stood at 70 months as of March 2026.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
Republican gubernatorial candidate and U.S. Rep. Andy Biggs (R-AZ05) says Arizona’s affordability crisis cannot be solved by housing policy alone, arguing that water management, utility costs, state trust lands, natural resource development, and election integrity all require a new approach under the state’s next governor.
In an exclusive interview with AZ Free News, Biggs outlined what he described as the core priorities of a potential administration, saying Arizona’s long-term prosperity depends on responsible resource management while restoring confidence in state government.
“The affordability of housing” is the state’s biggest economic challenge, Biggs said.
“It gets attention, but it doesn’t encompass everything that’s related to it,” he continued. “The water issue is massive, and it goes hand in glove with housing.”
Biggs argued that utility costs, water availability, and management of Arizona’s natural resources all contribute to the state’s affordability challenges.
“But the one aspect to this all that’s not being addressed in this administration… is how do you manage the state’s natural resources, including state trust land?” Biggs said. “That is going to be critical going forward on affordability issues in the state and viability of long-term economic success.”
For Biggs, water policy remains central to that vision. Biggs said Arizona must play a far more active role in negotiations over the future of the Colorado River rather than allowing federal agencies to dictate the outcome.
“You have to be engaged,” Biggs said.
He said he has met with officials from the United States Bureau of Reclamation, the United States Department of the Interior, the United States Department of Agriculture, the United States Department of Commerce, and the United States Department of Defense, arguing Arizona’s water allocation should reflect the state’s importance to national food production, semiconductor manufacturing, commerce, and defense.
“I’m encouraging all of them… to redo the environmental impact statement so it actually considers the national food security issue… the national defense sector… and the microchips and the industry,” Biggs said.
He also credited bipartisan work with Democrat Rep. Greg Stanton (AZ-04) to secure additional conservation funding for Lower Basin states and said Arizona’s advocacy helped encourage releases from Flaming Gorge Reservoir to stabilize Lake Powell.
Biggs also called for expanded forest thinning, continued livestock grazing, removal of invasive salt cedar, and responsible development of Arizona’s mineral resources.
“We have 26 of the critical minerals necessary in this state,” Biggs said. “You’ve got to figure out a way to use that and allow for extraction and development in a very rational and sane way.”
Addressing another growing issue, Biggs said he supports data center development but opposes taxpayer incentives.
“I sat down with multiple brokers for data centers and said, ‘Look, here’s the deal. No special breaks. No special benefits,'” Biggs said.
Instead, he said developers should finance their own electrical generation and water infrastructure without reducing resources available to existing residential or commercial customers. “We’re going to allow you guys to develop your power… provided that you do not encroach on current and future commercial and residential users.”
A policy report released by the Goldwater Institute in February warned that Arizona’s growing role as a national hub for data centers could be undermined by municipal regulations driven by concerns over water use, electricity demand, and land use.
On elections, Biggs said restoring public confidence would be among his first priorities if elected governor.
He pointed to Gov. Katie Hobbs’ veto of a Florida-style election integrity bill earlier this year and pledged to sign similar legislation if elected.
“One of the first bills I will sign is that Florida-style election integrity bill in January of 2027,” Biggs said.
Asked about the legal dispute between the Maricopa County Recorder’s Office and the Maricopa County Board of Supervisors over election administration, Biggs declined to side with either party but said he has spoken with both.
“I think both sides truly want us to have a fair, transparent election,” Biggs said. “They need to get this thing sorted out quickly.”
Biggs said he believes Arizona can become “the leader on election integrity” by the end of a potential administration.
The congressman is facing fellow Congressman David Schweikert (R-AZ01), business owner Ken Miceli, and entrepreneur Scott Neely for the Republican gubernatorial nomination in the primary and has centered much of his campaign on affordability, border security, government reform, and economic growth.
Apache County has removed the Spanish language from its print ballots.
Gila and Mohave counties made the same decision ahead of the 2024 general election.
Apache County officials cited printing costs and election wait times as deciding factors for the decision to limit printed ballots to one language. As support for these justifications, Apache County noted that it will continue to offer Spanish ballot translations on their electronic vote machines. Gila County does as well.
Rep. Abe Hamadeh (AZ-08) praised the county’s decision as “pure common sense.” Hamadeh said all citizens have a duty to speak the language of their nation.
“In America, we speak English. Naturalized citizens must prove they can read [and] write it to vote, ballots should reflect that too,” said Hamadeh.
In March, Hamadeh introduced legislation to require that only English be provided on federal ballots, the Voting Only Through English Act (VOTE Act). The bill would tie federal funding to compliance, something Hamadeh said was necessary to “end[ing] multilingual madness, [and] put[ting] America first.”
The legislative proposal was in response to President Donald Trump’s executive order designating English as the official language of the U.S. The order revoked former President Bill Clinton’s Executive Order 13166 requiring federal agencies to provide materials and services in languages other than English, though it didn’t ban agencies from continuing with the practice.
“To promote unity, cultivate a shared American culture for all citizens, ensure consistency in government operations, and create a pathway to civic engagement, it is in America’s best interest for the Federal Government to designate one — and only one — official language,” stated the executive order. “Establishing English as the official language will not only streamline communication but also reinforce shared national values, and create a more cohesive and efficient society.
Another Arizona county just eliminated Spanish ballots ahead of the midterms, pure common sense!
In America, we speak English. Naturalized citizens must prove they can read & write it to vote, ballots should reflect that too.
That’s why Congressman Hamadeh introduced the Voting…
— Office of Congressman Abe Hamadeh (@RepAbeHamadeh) July 8, 2026
Not all counties are permitted to simplify their ballots by keeping only the English language. Maricopa, Pima, Santa Cruz, and Yuma counties are required under federal law to include Spanish translations on their ballots and election materials.
The law requires non-English translations on ballots and election materials for states and political subdivisions with more than 5% of citizens voting age that are limited-English proficient, and political subdivisions with more than 10,000 citizens of voting age that are a single language minority and are limited-English proficient.
Progressive advocates say all counties should cater to non-English speakers who desire to vote.
Senior campaign managers with All Voting is Local (AVL), Natalia Sells and Justa Lopez, have spoken out against these three counties’ decisions.
The two issued an opinion piece with the Arizona Daily Star claiming counties were slowly regressing toward an election system accessible only to white men.
“Whether intentional or not, these changes move us backward to a time when many Americans’ fundamental freedom to vote was limited to only White men,” said the two campaign managers.
Sells later told AZ Family that counties have a duty to be accessible to all voters.
“Counties shouldn’t be making it harder for people to be able to vote just because English isn’t their first and primary language,” said Sells.
Sells, a graduate of Arizona State University (ASU) Sandra Day O’Connor College of Law, has worked with AVL since 2024.
Lopez, also a graduate of ASU, has served in managerial positions for several voter advocacy groups prior to joining AVL in March, including the Fair Elections Center, Mi Familia Vota, and Supermajority.
AZ Free News is your #1 source for Arizona news and politics. You can send us news tips using this link.
A groundwater fee provision backed by Rep. Chris Lopez (R-LD16) has been included in Arizona’s FY2027 budget, extending Pinal County agricultural water fee relief through 2030 and giving irrigation districts additional time to use funds for groundwater and irrigation efficiency projects.
The provision is part of HB 4159, the environment budget reconciliation bill signed by Gov. Katie Hobbs on June 13 and enacted as Chapter 131 of the 2026 session laws. The law amended state groundwater statutes by extending the period during which no groundwater withdrawal fee is levied in the Pinal Active Management Area (AMA) for Arizona water banking purposes from 2026 to 2030. It also extends through 2030 the $ 2.50-per-acre-foot annual fee cap for groundwater and irrigation efficiency projects in the Pinal AMA.
Lopez introduced the policy earlier in the session as HB 2827. The introduced version listed Lopez as the primary sponsor, with Reps. Gail Griffin (R-LD19), Teresa Martinez (R-LD16), Michele Peña (R-LD23), and James Taylor (R-LD29) also listed as sponsors.
Pinal County farmers are getting needed relief and long-term certainty.
Thanks to Rep. Chris Lopez (@lopezforarizona), the FY2027 budget extends key pump tax relief through 2030, allowing farmers and irrigation districts in the Pinal Active Management Area to keep and reinvest… pic.twitter.com/bNKzMFxHpZ
— Arizona House Republicans (@AZHouseGOP) July 7, 2026
Lopez serves as vice chair of the House Natural Resources, Energy & Water Committee and represents Legislative District 16, which includes portions of Pinal and Pima counties.
The Temporary Groundwater and Irrigation Efficiency Projects Fund provides money for projects tied to construction and rehabilitation of wells and related infrastructure for qualified irrigation districts in the Phoenix AMA, Pinal AMA, and Harquahala Irrigation Non-Expansion Area. Under Chapter 131, groundwater withdrawal fees collected in the Pinal AMA for groundwater and irrigation efficiency projects are deposited into the fund and used solely to construct and rehabilitate wells and related infrastructure in the Pinal AMA.
The law also extends the distribution schedule for unencumbered fund money. The previous June 30, 2027, deadline for distributing remaining funds to contributors is moved to June 30, 2032, with proportional distribution by Dec. 31, 2032. The repeal date for the Temporary Groundwater and Irrigation Efficiency Projects Fund is extended from March 31, 2028, to March 31, 2033. HB 4159 also extends the repeal date for the Arizona System Conservation Fund from March 31, 2027, to March 31, 2031.
Lopez said that, with ongoing Colorado River negotiations, the extension was needed to “provide stability for irrigation districts” preparing for reduced Colorado River water. He also said the measure helps “keep Pinal money in Pinal” and allows irrigation districts to upgrade wells and switch from open canals to closed-pipe systems, which he said conserves water by reducing evaporative losses.
Arizona’s “Save Women’s Sports Act” no longer faces a court challenge following a Supreme Court ruling.
Last month, the U.S. Supreme Court ruled in West Virginia v. B.P.J. (inclusive of Little v. Hecox) that states have a constitutional right to enact laws restricting single-sex sports participation on biological sex. The court ruling affirmed that biology, not gender identity, defines sex when considering federal regulations on sex-based discrimination.
The Save Women’s Sports Act went into effect in 2022 under SB 1165. The law requires K-12 students to play on sports teams aligning with their biological sex.
The following spring, the families of two boys who identify as transgender girls sued State Superintendent of Public Instruction Tom Horne in Doe v. Horne. The boys who filed were, at the time, an 11-year-old middle schooler in Maricopa County identified as “Jane Doe” and a 15-year-old high schooler in Pima County identified as “Megan Roe.”
Roe, now identified as Grey Picciano, dropped out of the case upon graduating high school, and until this week only Doe remained in the case.
The two youths had alleged the law was unconstitutional under the Fourteenth Amendment’s Equal Protection Clause, Title IX, the Americans with Disabilities Act, and the Rehabilitation Act since they had either not undergone puberty or were taking puberty blockers.
The Tucson division of the Arizona District Court blocked the state law in July 2023, and the Ninth Circuit Court of Appeals upheld that ruling in 2024.
Horne celebrated the lawsuit’s dismissal in a press release announcement, bringing to close a three-year court battle in which Horne ultimately held the line on Arizona’s law.
“There had been numerous articles about girls who worked hard on their sports, hoping to make the team, or even get a college scholarship or compete for the Olympics. Then they had to compete with a biological boy who was bigger, stronger and faster from birth,” said Horne. “They could not compete. Their dreams were shattered and they were devastated. They no longer need to fear those outcomes.”
Horne also pointed out that, of all those named as defendants in the original lawsuit, only his office remained three years later. Attorney General Kris Mayes reportedly declined to represent Horne in the case. Horne contracted the services of Wilenchik Law Firm to represent him.
An attorney behind the lawsuit to stop Arizona’s law, Rachel Berg, senior staff attorney with the National Center for LGBTQ Rights (NCLR), told Capitol Media Services that it was Doe’s decision to dismiss the lawsuit.
“[O]ur client has decided for personal reasons that she does not want to continue with the litigation,” said Berg.
In a statement last week responding to the Supreme Court ruling, Berg claimed state laws restricting participation in single-sex sports based on biological sex would lead to institutions checking the gender of participants should they appear to be physically above average.
“Blanket bans on transgender girls playing school sports invite anyone to call for a ‘gender check’ on any girl who wants to play sports if they think she is ‘too tall’ or ‘too strong,’” said Berg. “Local schools and sports associations should be handling this issue, not politicians.”
Including the dismissed case, NCLR has filed five cases challenging Arizona laws and policies which allegedly impose unlawful discriminations against individuals who identify as transgender.
AZ Free News is your #1 source for Arizona news and politics. You can send us news tips using this link.
Republican gubernatorial candidate and U.S. Rep. Andy Biggs (R-AZ05) says Arizona should embrace an expanded nuclear future, backing additional reactors at Palo Verde Generating Station while positioning the state to become a national leader in small modular reactor technology.
In an exclsuive interview with AZ Free News, Biggs voiced unequivocal support for expanding Arizona’s nuclear generating capacity as electricity demand continues rising from population growth, advanced manufacturing, and data centers.
“I’m 100 percent behind it,” Biggs said when asked about expanding Palo Verde. “I think they need to be located there.”
His comments come as Arizona utilities continue to pursue license renewals that would allow Palo Verde’s three existing reactors to operate into the 2060s. Palo Verde was also originally envisioned with additional generating capacity, including Units 4 and 5, expansion plans first contemplated in the 1970s and revisited in 2006.
Separately, Arizona Public Service (APS), Salt River Project (SRP) and Tucson Electric Power (TEP) announced in February 2025 that they were working together to identify potential sites for an entirely new nuclear power plant to meet growing energy demands.
“New nuclear generation could provide Arizona with reliable, around-the-clock carbon-free energy to power economic growth while helping us make progress toward a clean energy future,” TEP President and CEO Susan Gray said in a news release at the time. “We know the development timeline would be long, so it makes sense for our state’s energy providers to begin this preliminary evaluation as soon as possible.”
Biggs also expressed strong support for small modular reactors, commonly known as SMRs.
“I’ve been supportive of the development of SMRs,” he said.
The Arizona legislature considered House Bill 2795 in February, which aimed to ease regulatory barriers for next-generation nuclear power projects in rural Arizona. However, the measure failed to pass in the State Senate.
While Biggs cautioned the technology is probably “not going to be scalable for five to 10 years,” he said Arizona should move aggressively to secure one of the first demonstration projects.
One location stands above the rest, according to Biggs. He said, “We’re advocating that Luke Air Force Base gets an SMR—one of the first nine or 10 that the administration is insisting needs to be there by the end of 2027.”
Biggs said he has been working alongside fellow Arizona Republican members of Congress, including Reps. Paul Gosar (R-AZ09), Eli Crane (R-AZ02), and Abe Hamadeh (R-AZ08), to encourage the effort.
“We want to be on the cutting edge of that. Because I think SMRs are the wave of the future,” Biggs said.
He also said recent meetings with energy-sector officials reinforced that view.
“I just talked to an energy group last week, and they agree SMRs are the wave of the future. And that’s where we need to be going.”
Biggs also tied nuclear development to Arizona’s broader economic future, saying reliable baseload power will be essential as advanced manufacturing, semiconductor production, artificial intelligence, and data centers continue expanding throughout the state.
Although he said he supports data center investment, Biggs argued such projects should proceed without taxpayer subsidies or preferential treatment.
“No special breaks. No special benefits,” he said.
Instead, Biggs said developers should be responsible for securing their own electrical generation—including SMRs where appropriate—while ensuring existing residential and commercial ratepayers are not displaced by new industrial demand.
His comments come as Arizona utilities and policymakers increasingly examine nuclear energy as part of the state’s long-term strategy to meet growing electricity demand while maintaining grid reliability.
Biggs is seeking the Republican nomination for governor, making energy development one of several major policy areas he says will shape Arizona’s long-term economic competitiveness.
