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Sen. Daines introduced the Budgetary Accuracy in Scoring Interest Costs (BASIC) Act Thursday, which would require both the Congressional Budget Office (CBO) and the Joint Committee on Taxation to include projected interest expenses associated with legislative proposals. Daines said that including interest is necessary to accurately account for the budgetary cost of the legislation.  Sens. Rand Paul (R-KY) and David Perdue (R-GA), two fiscal hawks, also cosponsored Daines’ BASIC Act. Daines’ legislation arises as the Senate passed a two-year budget agreement,that would increase federal spending by $320 billion over two years. The federal government requires both the JCT and CBO to provide

Republican congressional leaders are quietly preparing to pass a “clean” debt ceiling increase, according to multiple senior GOP sources — setting the stage for a high-risk showdown with rank-and-file Republicans this fall. Trump administration officials, led by Treasury Secretary Steven Mnuchin, are imploring Congress to raise the $19.8 trillion debt limit with no strings attached by the end of September. And Senate Majority Leader Mitch McConnell and Speaker Paul Ryan — well aware they need Democrats to pass any debt bill through the Senate — are on board, albeit begrudgingly so. But beyond the leadership, there are few Republican takers,