Deficit Reduction Act

[AI summary unavailable — showing source text] Deficit Reduction Act - Amends the Congressional Budget Act of 1974 to make it out of order in either the House of Representatives or the Senate to vote on the question of agreeing to any concurrent resolution on the budget or any amendment thereto or any conference report thereon for FY 1984 or any subsequent fiscal year if the adoption of such a measure would cause the Federal deficit to exceed a certain limit. Provides for an exception to such limitation in any fiscal year in which a declaration of war is in effect. Amends the Congressional Budget and Impoundment Control Act of 1974 to define certain terms for the purposes of such Act and to include provisions limiting the budget deficit. Amends the Congressional Budget Act of 1974 to revise the information to be included in any concurrent resolution on the budget or any revision in order to provide for deficit reduction. Requires a deficit reduction bill or resolution to be reported by either a House or Senate committee if a concurrent resolution on the budget contains directions to one or more committees to determine and recommend changes in laws, bills, or resolutions. Requires Congress to complete action on any such bill or …