To reduce domestic and defense discretionary spending.

Cancels the Space Station program of the National Aeronautics and Space Administration (NASA). Authorizes appropriations to the NASA Director for termination costs and authorizes FY 1994 through 1998 appropriations to carry out NASA responsibilities. Rescinds funds authorized for the Space Station program under prior law.

Rescinds funds authorized in the Department of Defense Appropriations Act, 1994 for the Ballistic Missile Defense program. Reduces for each of FY 1995 through 1998 the total amount authorized to the Department of Defense for such program.

Directs the Secretary of Energy to terminate the Department of Energy's advanced liquid metal reactor program. Rescinds FY 1994 and prior year funds for such program.

Changes the effective date of the requirement for a reduction to 100,000 in the number of U.S. military personnel stationed in Europe from October 1, 1995, to October 1, 1994. Requires certain further end strength reductions in personnel assigned to European member nations of NATO, providing a reduction formula and annual reduction goals based on allied contributions toward nonpersonnel costs for U.S. military installations in such nations. Allows an end strength of at least 25,000 U.S. personnel to be maintained in such nations.