Federal Spending Control Act

Federal Spending Control Act - States that it shall not be in order in either the Senate or the House of Representatives to consider any bill or resolution which authorizes the enactment of new budget authority for any fiscal year beginning six years after the effective date of this Act until the committee which has jurisdiction has submitted a report which analyzes and evaluates existing programs in accordance with requirements set forth in this Act.

Permits the Senate to waive, by resolution, the limitation on new budget authority imposed by this Act where the proposed legislation provides for the enactment of such authority for a period of more than four fiscal years.

Requires that conference reports on authorization bills state the objectives of the program as developed in conference.

Makes provisions for the phaseout of existing programs.

Requires that each committee of the Senate file with the Senate a report on its proposed plan for implementation of this Act not later than one year following the effective date of this Act.

Directs the Comptroller General of the United States to furnish information, analyzes, and reports to Congressional committees in order to assist such committees in carry out their duties under this Act.

Requires the Director of the Office of Management and Budget to conduct a study of the feasibility and advisability of establishing a zero-base budgeting system for the departments and agencies of the executive branch.