Ronald Reagan Peace Dividend Investment Act of 1993

Ronald Reagan Peace Dividend Investment Act of 1993 - Amends the Congressional Budget Act of 1974 to provide for a reduction in the deficit and an increase in the personal income tax exemption when outlays in the defense category for FY 1994 or 1995 are estimated to be below such outlays for FY 1993. Requires an adjustment to the discretionary spending limits (calculated pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985) (Gramm-Rudman-Hollings Act) under such circumstances.

Provides that it shall not be in order in the Senate or House of Representatives to consider any legislation reducing defense spending below the FY 1993 level if such legislation does not allocate the total amount of such reduction to deficit reduction and personal tax exemption increases.