Educators Expense Deduction Modernization Act of 2023 This bill increases from $300 to $1,000 the tax deduction for the expenses of eligible educators. An eligible educator is, with respect to any taxable year, an individual who is a K-12 teacher, instructor, counselor, principal, or aide in a school for at least 900 hours during a school year. The bill also requires the amount of the deduction to be adjusted annually for inflation.