Feds offer ideas on agency cost-cutting

Tuesday - 7/10/2012, 7:16pm EDT

The White House kicked off the fourth annual SAVE Award, seeking cost-cutting ideas from those who know best how to help Uncle Sam pinch pennies — federal employees.

Employees have until July 24 to submit ideas for reducing government spending.

The Office of Management and Budget will winnow the entries down to a "final four," which will be voted on by the public. The winner is given the opportunity to meet with the President to present the idea.

The Obama administration launched the awards — an acronym for Securing Americans Value and Efficiency — in 2009. Since then, feds have submitted more than 75,000 cost-saving ideas through the contest, according to OMB.

Previous SAVE Award winners have included a NASA employee's plan to create a lending library of extra equipment and tools and a Bureau of Prisons employee, who suggested sending the Federal Register via email to cut printing and postage costs.

By 5 p.m. on the first day the awards opened, users had submitted more than 1,500 ideas.

To submit an idea, click here.

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