A bill to amend the Congressional Budget Act of 1974 to limit increases in total Federal budget outlays and new budget authority to existing real dollar levels.

Amends the Congressional Budget Act of 1974 to permit the Congress to consider its annual concurrent resolution on the budget only if the appropriate level of total budget outlays and of total new budget authority set forth in such resolution for any fiscal year do not exceed the appropriate levels of total budget outlays and total new budget authority, respectively, for the preceding fiscal year, increased only to the extent necessary to reflect any diminution in the value of the dollar attributable to inflation during the preceding 12 months.