Treasury Offers $10K Reward for Employee Ideas to Cut Costs (1)

The Trump administration, intent on cutting costs on government contracts, is offering to pay federal employees as much as $10,000 for ideas that lead to verified savings.

The Treasury Department is asking frontline employees to submit proposals to cut or eliminate contracts in their program areas. If those cancellations are approved and verified by the Treasury and the General Services Administration, the employees can receive as much as $10,000 per contract action. As first announced on Wednesday, employees would get 1% of the savings, but the GSA later increased the award to 5%.

While the program is currently limited ...