[link to original on tumblr]
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Interestingly, it's sort of the opposite of the bass part in "This Will Be Our Year." At one point, this goes chromatically from E to A (ascending), where the bass part in "This Will Be Our Year" goes chromatically from A to E (descending).
Additionally, the rising chromaticism helps to musically portray the line "Take me higher." Although, as "This Will Be Our Year" is a pretty optimistic song, I don't think you could apply the same sort of programmatic aspect to that chromatic bass line. That is: just because it's descending doesn't mean that it isn't a happy song.
This is a new one in the catalogue, but I don't know enough of it to really feel satisfied yet.