A concurrent resolution setting forth the congressional budget for the United States Government for the fiscal years 1981, 1982, and 1983 and revising the congressional budget for the United States Government for the fiscal year 1980.

[AI summary unavailable — showing source text] Sets forth the first concurrent resolution on the budget for fiscal year 1981. Recommends a level of Federal revenues in fiscal year 1981 of $613,800,000,000 with an increase in aggregate revenues of $22,300,000,000. Provides for a targeted tax reduction of $10,300,000,000 (an amount equal to estimated receipts from oil import fees). States that the appropriate level of total budget authority for fiscal year 1981 is $694,600,000,000 and that the appropriate level of total budget outlays is $611,800,000,000. Sets forth a budget surplus of $2,000,000,000. Recommends a level of public debt at $926,800,000,000 with an increase of $30,100,000,000 in the statutory limit on the public debt. States that the appropriate level of total gross obligations for the principal amount of direct loans is $60,600,000,000. Sets the appropriate level of total commitments to guarantee loan principal at $79,600,000,000. Sets forth recommended levels of new budget authority and outlays under each major functional category of the budget for fiscal year 1981. Directs the following congressional committees to effectuate specified reductions in budget authority and outlays for fiscal year 1981 contained in le…