A bill to amend the Congressional Budget Act of 1974 to impose limits on the amount of total budget outlays contained in concurrent resolutions on the budget, and for other purposes.

Amends the Congressional Budget Act of 1974 to limit the level of total budget outlays in any concurrent resolution on the budget to 20 percent of the gross national product by fiscal year 1987. Makes it in order to consider a concurrent resolution containing budget outlays which exceed the specified limits within a specified "margin of error."

Imposes reporting requirements upon the President and the congressional budget committees with respect to this requirement.