Declaring that the deficit target for fiscal year 1991 set forth in the Balanced Budget and Emergency Deficit Control Act of 1985 should be met by limiting the growth in spending, and for other purposes.

Expresses the sense of the Congress that: (1) the deficit target for FY 1991 set forth in the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) should be met by limiting the growth in Federal spending; and (2) new revenues resulting from statutory changes in Federal tax laws should be deposited into the public debt reduction fund in the Treasury and used to reduce the public debt.