To authorize appropriations for the Office of Environmental Quality for fiscal years 1989, 1990, 1991, 1992, and 1993; to ensure consideration of the impact of major Federal actions on the global environment, and for other purposes.

Amends the National Environmental Policy Act of 1969 to modify provisions regarding the content of environmental impact statements.

Requires the President to report annually to the Congress on a strategy for achieving certain environmental policy goals under such Act.

Directs the Council on Environmental Quality to promulgate regulations implementing such Act for all Federal agencies, including independent regulatory commissions.

Requires the Council to establish guidelines for Federal agencies to review and report to the Council on a statistically significant sample of environmental impact statements prepared by such agencies in which measures were specified for the mitigation of the adverse impact on the environment, including fish and wildlife populations and habitat, that was predicted to result from the action. Requires Federal agencies to examine the accuracy and effectiveness of projected adverse impacts and their mitigation. Directs the President to include a summary of the results of such reviews in his annual report to the Congress.

Requires the Council, no later than one year after enactment of this Act, to issue regulations to require Federal agencies, in their environmental impact statements, to: (1) ensure consideration of the effects of their actions on the environment of the global commons outside the jurisdiction of any nation; and (2) ensure the formal assessment of such effects on the environment outside the jurisdiction of the United States.

Amends the Environmental Quality Improvement Act of 1970 to authorize appropriations for FY 1989 and 1990 for the operations of the Office of Environmental Quality and the Council on Environmental Quality.