WASHINGTON, Jan. 2 -- Fiscal Service has issued a notice called: Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation.
The notice was published in the Federal Register on Jan. 2 by Linda Claire Chero, Assistant Commissioner, Disbursing & Debt Management and Chief Disbursing Officer.
Summary: The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purc...