National Commission to Eliminate Waste in Government Act - Establishes the National Commission to Eliminate Waste in Government to: (1) conduct a private sector survey on management and cost control in the Federal Government; (2) conduct in-depth reviews of executive agency operations; (3) review existing Government Accounting Office, Congressional Budget Office, and Inspector General reports and other existing governmental and nongovernmental recommendations for reducing waste, including recommendations from the President's Private Sector Survey on Cost Control, and to periodically report to the President and Congress on such recommendations that are most significant, on the estimated savings from such recommendations, and on whether the recommendations can be implemented by executive order or require legislative action; (4) submit to the President and Congress recommendations for improving the budget process and management and for reducing waste and costs; and (5) submit a final report setting forth its findings and conclusions and specific recommendations for legislative and administrative actions.
Requires the Commission to be funded, staffed, and equipped by the private sector without cost to the Government under the expectation that the Secretary of Commerce will engage in a joint project with a nonprofit organization to provide support for the Commission.