The government will announce the total amount of bonds to be sold on February 1, 2006. Auctions will be held twice a year, in February and August, and officials plan to raise between $20 billion and $30 billion each year.
The administration had announced the return of the 30-year bond in August; the bond was sold previously from 1977 until 2001.
In August, House Committee on Education & the Workforce Chairman John Boehner (R-Ohio) said that “The return of the 30-year Treasury bond underscores the need to complete action on pension reform this year and to establish a permanent interest rate so employers can more accurately measure and fund their pension obligations. Without action on comprehensive reform this year, the interest rate will revert back to the 30-year Treasury rate, and there’s no indication of whether this rate would be an accurate measure of pension liabilities.”