Commemoration of the Victory of Freedom in the Cold War Act

Commemoration of the Victory of Freedom in the Cold War Act - Requires the Chairman of the Joint Chiefs of Staff to: (1) design a decoration to be known as the Reagan-Truman Victory in the Cold War Medal; and (2) award such medal to each person who served honorably in the armed forces during the Cold War in order to recognize the contributions of those persons to U.S. victory.

Makes certain Army appropriations available to cover the costs of the armed forces in participating in a celebration of the 10th anniversary of the end of the Cold War to be held in Washington, D.C., on December 26, 2001.

Establishes the Commission on Victory in the Cold War to: (1) review the expenditure of funds by the armed forces before its participation in the celebration; and (2) design and award medals and decorations to current and former public officials and other individuals whose efforts were vital to U.S. victory.