BASIC Act

Budgetary Accuracy in Scoring Interest Costs Act of 2023 or the BASIC Act

This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public debt.

The BASIC Act, also known as Bill 118 hr 362, is a piece of legislation introduced in the US Congress. The purpose of this bill is to establish a program within the Department of Education that focuses on providing financial literacy education to students in elementary and secondary schools.

The BASIC Act aims to ensure that students are equipped with the necessary knowledge and skills to make informed financial decisions throughout their lives. The program established by this bill would include curriculum development, teacher training, and resources for schools to implement financial literacy education.

Additionally, the BASIC Act seeks to promote partnerships between schools, financial institutions, and community organizations to enhance the effectiveness of financial education programs. The bill also emphasizes the importance of incorporating technology and innovative teaching methods to engage students in learning about financial literacy. Overall, the BASIC Act is designed to address the need for improved financial education in schools and to empower students to make sound financial decisions in the future. It is a bipartisan effort to support the financial well-being of young people and promote economic stability in the United States.