Amends Rule XXI (Restrictions on Certain Bills) of the Rules of the House of Representatives to allow a Member to designate the amount of the reduction in new budget authority that should be used to reduce the federal budget deficit (or to increase the federal budget surplus) if an amendment offered by the Member to any general appropriation bill (or resolution making continuing appropriations to the end of a fiscal year) to reduce new budget authority (and resulting outlays) is agreed to.
Requires the chairman of the Committee on Appropriations, whenever such legislation is engrossed in the House, to: (1) reduce the suballocation of new budget authority and outlays to the appropriate subcommittee by the net amount of such reductions; and (2) promptly report those revisions to the House.
Prohibits the Committee from reallocating such reductions to other subcommittees.
Deems the revised suballocations to be made under the Congressional Budget Act of 1974 in the House.
Requires the chairman of the Committee on the Budget to make appropriate revisions in allocations to the Committee on Appropriations to reflect the revised suballocations and report them to the House.