A joint resolution to establish a bipartisan National Commission on Federal Budget Deficit Reductions.

Establishes the National Commission on Federal Budget Deficit Reductions to review all relevant elements of fiscal and monetary policy, identify problems which may hinder the control and reduction of Federal budget deficits, and analyze all potential options which would result in deficit reductions and place the Government on a sound financial basis.

Requires the Commission to transmit a report to the President and Congress not later than February 15, 1984, or the close of the 90th day beginning after the date of enactment of this resolution. Requires such report to contain a detailed statement of the findings and conclusions of the Commission, together with its recommendations for such legislation and administrative actions as it considers appropriate.

Terminates the Commission 30 days after it submits its report.