A bill to amend the Congressional Budget Act of 1974 to strengthen the budget process, and for other purposes.

[AI summary unavailable — showing source text] Declares that it is the purpose of this Act to insure that Congress considers every year a budget in which the expenditures and receipts are in balance. Requires the House Committee on Government Operations and the Senate Committee on Governmental Affairs to undertake independent studies of: (1) the accounting and budgetary system of States required by their constitutions to maintain balanced budgets; and (2) the impact of off-budget activities on the budget process. Requires such committees to recommend appropriate changes to the Federal accounting and budgetary system necessary to operate under a Federal balanced budget framework. Title I: Amendments to Chapter II of Title 31, United States Code - Requires that the budget submitted by the President for the ensuing fiscal year set forth a recommended level of estimated expenditures which does not exceed the Government's estimated receipts. Permits the President, for reasons of national security or economic necessity, to submit two budgets only one of which is in compliance with the balanced budget requirement. Title II: Amendments to Congressional Budget Act of 1974 - Amends the Congressional Budget Act of 1974 to require the conc…