Excess Government Spending Surtax Act

Excess Government Spending Surtax Act - Amends the Internal Revenue Code to impose upon the income of individuals and corporations a surtax in each year between 1980 and 1983 in which Federal expenditures exceed specified levels. Suspends the surtax for any year in which the unemployment rate exceeds 7.5 percent for a third consecutive month. Requires the identification of the surtax on tax forms as the "Excessive Government Spending Surtax."