Concurrent resolution declaring the commitment of the Senate to comply with the Congressional Budget and Impoundment Control Act of 1974, and to reduce spending levels.

Reaffirms Congress' commitment to follow the procedures established by the Congressional Budget and Impoundment Control Act. Recognizes and approves the President's determination to reduce spending levels in order to reduce the national deficit. Requests the President to expedite his submission to Congress of specific spending cut proposals. Declares the Senate's intention to counterbalance future tax reductions by restricting the growth of spending.