WASHINGTON, D.C. (WEHT) – On March 15, Senator Rand Paul reintroduced the Bonuses for Cost-Cutters Act.
Officials say currently, federal law allows an agency’s Inspector General to pay bonuses of up to $10,000 of savings realized when a federal employee identifies waste, fraud or mismanagement of funds. A news release says Sen. Paul’s legislation would expand these categories to include identifying surplus or unneeded funds.
The news release says Bonuses for Cost-Cutters would also make sure 90 percent of the savings are automatically directed toward deficit reduction, with agencies free to apply any remainder toward other agency priorities, subject to current law.
Sen. Paul said, “Successfully tackling our debt crisis requires vigilance at all levels of government, from lawmakers in Congress to the employees on the front lines that carry out the day-to-day spending. The pressure in Washington to spend all you can before the end of the fiscal year so you can get even more in the future is enormous. Bonuses for Cost-Cutters pushes back against this status quo, providing additional incentive to save taxpayer resources.”
The Bonuses for Cost-Cutters Act is below.