Denver — Colorado U.S. Senator Michael Bennet and U.S. Senator Rand Paul (R-Ky.) reintroduced the Bonuses for Cost-Cutters Act to reward federal employees who identify savings from surplus or unneeded government funds.
Currently, federal law allows a federal agency’s Inspector General to pay bonuses of up to $10,000 of savings realized when a federal employee identifies unnecessary spending through waste, fraud, or mismanagement of public funds. This legislation would expand these categories to include identifying surplus or unneeded funds, and ensure 90 percent of the savings are automatically directed toward deficit reduction.
“We should reward public servants who identify unnecessary spending and make our government work better – and that is exactly what this bill does,” said Bennet. “By encouraging federal employees in Colorado and across the country to report wasteful or surplus spending, we can make sure tax dollars have the greatest possible effect for every American.”
Since joining the Senate in 2009, Bennet has led the fight for fiscal responsibility and responsible spending in Washington.
The text of the bill is available HERE.