To permit the Mayor of the District of Columbia to carry out reductions to the budgets of independent agencies of the District of Columbia.

Amends the District of Columbia Self-Government and Governmental Reorganization Act to authorize the Mayor of the District of Columbia, with the approval of the Council, to reduce the appropriations or amounts made available to District of Columbia independent agencies (including the Board of Education) for a fiscal year, if a reduction in such amounts is necessary to balance the District's budget.

Exempts the District of Columbia courts and the District of Columbia Council from coverage under this Act.