Federal Spending Discipline Act

[AI summary unavailable — showing source text] Federal Spending Discipline Act - Amends the Congressional Budget and Impoundment Control Act to limit total budget authority and budget outlays for fiscal year 1980 to the levels for fiscal year 1979. States that such authority and outlays for fiscal years 1981, 1982, and 1983 shall not exceed the authority and outlay of the previous fiscal year by more than five percent. Authorizes the President to reduce any budget authority or outlay during fiscal years 1980 through 1983 by up to ten percent in order to comply with the requirements of this Act.…