Actually, no, taxpayers will not pay nearly $1 Trillion in interest next year. The government will collect some taxes, and they will borrow the rest. If there are not enough private investors to buy the debt required, the federal reserve will print the money to buy the debt. Money is created by the Federal Reserve's purchase of government bonds. Money is circulated by government spending.

https://www.businessinsider.com/personal-finance/modern-monetary-theory