Federal Spending Control Act of 1980

Federal Spending Control Act of 1980 - Amends the Congressional Budget Act of 1974 to prohibit the adoption of any concurrent resolution on the budget which contains a level of total budget outlays in excess of 20 percent of the estimated full employment gross national product in fiscal year 1982 or 19 percent of the estimated full employment gross national product in fiscal years 1983 and 1984. Defines full employment as an unemployment rate of four percent. Establishes procedures to enable the President and the Congress to suspend such limitations.

Directs the Committee on the Budget of the House of Representatives to print a report on the effectiveness of this Act by March 17, 1984.