A bill to amend the Congressional Budget Act of 1974 to limit the levels of total budget outlays contained in the concurrent resolutions on the budget and to study including certain off-budget items as budget outlays for purposes of such Act.

Title I: Limitations on Budget Outlays - Amends the Congressional Budget Act of 1974 to prohibit the adoption of any concurrent resolution on the budget which sets forth a level of total budget outlays in excess of specified decreasing percentages of the gross national product for fiscal years 1982 and thereafter. Establishes procedures to enable the President and the Congress to suspend such limitations.

Title II: Study - Directs the Comptroller General to study and report to the House and Senate Budget Committees on the inclusion of tax expenditures and off-budget items in the amount of total budget outlays during a fiscal year for purposes of the Congressional Budget and Impoundment Control Act of 1974.