Government Cost Reduction Act

[AI summary unavailable — showing source text] Government Cost Reduction Act - Title I: Productivity Improvement by the Office of Personnel Management - Requires each performance appraisal system developed by a Federal agency under Office of Personnel Management (OPM) regulations to include performance standards relating to the degree of attainment of cost reduction goals and management objective established under title III of this Act. Directs an agency to consider such standards when evaluating the performance of senior executives. Prohibits the President from awarding the rank of Meritorious Executive or Distinguished Executive to a senior executive who fails to attain such standards. Specifies criteria for the classification of Federal managerial positions which excludes any consideration of the subordinate position structure or the extent to which functions are performed by an agency rather than by contract. Directs OPM to prescribe regulations to assure that managers who reduce their staffing levels or budget utilization are rewarded and do not, as a result, have their positions reduced in grade. Title II: Program Goals and Performance Indicators - Requires the head of each executive agency to establish goals for each age…