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S. 2435: BASIC Act

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About the bill

A decade from now, interest on the deficit alone will be higher than the entire deficit was last year. Should this be reflected in government spending and budget estimates?


The federal deficit was $779 billion last year. [See Table 1.1 in that link, cell E29.] It’s projected to rise to $960 billion this year. And on its current path, it will exceed $1 billion annually for the next decade.

Several factors are contributing to this sharp rise. One of the biggest is 2017’s Republican-led Tax Cuts and Jobs Act law which slashed rates on income, payroll, and corporate taxes. Increasing spending enacted on a bipartisan basis for Social Security, Medicare, and defense is also contributing to the rising deficit as well.

Interest owed for the national ...

Sponsor and status

Steve Daines

Sponsor. Junior Senator for Montana. Republican.

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Last Updated: Aug 1, 2019
Length: 2 pages
Aug 1, 2019
116th Congress (2019–2021)

Introduced on Aug 1, 2019

This bill is in the first stage of the legislative process. It was introduced into Congress on August 1, 2019. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

3% chance of being enacted according to Skopos Labs (details)


Aug 1, 2019

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

If this bill has further action, the following steps may occur next:
Passed Committee

Passed Senate

Passed House

Signed by the President

S. 2435 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 2435. This is the one from the 116th Congress.

How to cite this information.

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GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from, the official portal of the United States Congress. is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.