A bill to amend title 31, United States Code, to require the President to submit with his budget an analysis of its impact on international competitiveness of U.S. business and the balance of payments position, and to amend the Congressional Budget Act of 1974 to require that a similar analysis be included in the report of the Committee on the Budget of each House of Congress which accompanies each concurrent resolution on the budget.

Requires the President to include in the annual Federal budget submitted to the Congress for FY 1989 through 1992 an analysis by the Office of Management and Budget of the budget's impact on the international competitiveness of U.S. business and the U.S. balance of payments position, including projections, based upon the best information available at the time, for Government borrowing, domestic savings, private domestic investment, the merchandise trade and current accounts, and foreign indebtedness.

Amends the Congressional Budget Act of 1974 to require that a similar analysis, prepared after consultation with the Director of the Congressional Budget Office, be included in the report of the Committee on the Budget of each House of Congress which accompanies each concurrent resolution on the budget for FY 1989 through 1992.