A bill to amend the Congressional Budget Act of 1974 to limit the levels of total budget outlays contained in certain concurrent resolutions on the budget.

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 21 percent of the gross national product in fiscal year 1981, 20 percent of the gross national product in fiscal year 1982, and 19 percent of the gross national product for each fiscal year thereafter. Establishes procedures to enable the President and the Congress to suspend such limitations on the level of budget outlays.