Respect, Advancement, and Increasing Support for Educators Act of 2023 or the RAISE Act of 2023 This bill allows eligible educators (i.e., any elementary or secondary teacher and any early childhood educator) a refundable tax credit of $1,000 plus an additional amount (based upon a specified student poverty ratio) for eligible educators employed at a qualifying school (i.e., a public elementary or secondary school that is eligible for certain federal assistance or is funded by the Bureau of Indian Education), or an early childhood education program for children receiving certain federal assistance. The bill also increases the amount of the tax deduction for the expenses of elementary and secondary school teachers and expands such credit to include early childhood educators. The bill provides additional funding to local educational agencies that maintain or increase the salaries of their teachers.