Capital Budgeting Act of 1991

Capital Budgeting Act of 1991 - Amends Federal law to require that the budget the President submits to the Congress be a unified budget comprising an operating budget and a capital budget, each presented separately for unified funds, general funds, trust funds, and enterprise funds. Restricts the capital budget to the major activities, projects, and programs supporting the acquisition, construction, alteration, and rehabilitation of capital assets. Includes all other items in the operating budget.

Directs the Comptroller General to review and report to the Congress, as necessary, on the implementation of this Act.

Requires the Committee on the Budget of the House of Representatives to submit legislation to establish additional deficit targets under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) beginning in FY 1993 which would require the eventual elimination of deficits in the General and enterprise funds.