Bonuses for Cost-Cutters Act of 2023

This bill establishes a program allowing federal agency heads to award cash bonuses of up to $20,000 to employees who identify "wasteful expenses" in agency budgets. It defines wasteful expenses as funds identified by employees and verified by the agency's Chief Financial Officer as not needed for their original purpose. Agencies must publicly report on employee disclosures of potential waste and the cash awards given, while excluding Inspector General staff from eligibility. The bill also requires agencies to notify the President about identified wasteful expenses for possible budget rescission.