Implementation of Simpson-Bowles Spending Reductions Act of 2011 - Prohibits the total amount of appropriations to: (1) the White House for the Executive Office of the President and to the President for FY2012-FY2016 from exceeding 85% of the total amount of such appropriations for FY2011, and (2) Congress for such fiscal years from exceeding such a percentage of its FY2011 appropriations as well.

Eliminates cost-of-living (COLA) adjustments for Members of Congress during FY2013-FY2015.

Amends the Continuing Appropriations Act, 2011 to extend through December 31, 2015, the freeze on any COLA to the pay of certain federal civilian employees (thus extending such freeze from two to five calendar years). Extends through such date also the prohibition against receipt by a senior executive or senior-level employee of any increase in the rate of basic pay absent a change of position that results in a substantial increase in responsibility or a promotion.

Requires the Office of Management and Budget (OMB) to: (1) take appropriate measures to ensure that the total number of federal employees, beginning in FY2015, does not exceed 90% of the total number of federal employees on September 30, 2011; (2) continuously monitor all agencies, make a determination on whether the total number of federal employees in any quarter of a fiscal year exceeds the maximum number allowed by this Act, and notify the President and Congress if the number exceeds the maximum; and (3) ensure that there is no increase in the procurement of service contracts due to this Act unless a cost comparison demonstrates that such contracts would be financially advantageous to the federal government. Allows the President to waive the workforce limitations imposed by this Act in specified circumstances.

Requires OMB to take appropriate measures through FY2014 to ensure that agencies shall appoint no more than one employee for every three employees retiring or otherwise separating from government service.

Prohibits the total amount of funds appropriated for travel expenses for each agency for each of FY2012-FY2016 from exceeding 80% of the total amount of funds appropriated for FY2011.

Directs OMB to coordinate with federal departments and independent agencies to take certain steps to limit government printing costs.

Reduces to 80% of the amount for FY2010 the amount made available to the General Services Administration (GSA) for FY2012 and each succeeding fiscal year to acquire new vehicles for the federal fleet.

Requires OMB, by sale or auction, to dispose of a quantity of real property worth at least $100 million altogether (with specified exceptions) that is not being used, and will not be used, to meet the needs of the federal government for FY2011-FY2015.

Amends the Congressional Budget Act of 1974 to make it out of order in either chamber to consider a bill, resolution, or any other measure that includes an earmark or limited tax or tariff benefit.

Permits waiver of such prohibition in the Senate only by an affirmative vote of two-thirds of the Members.

Exempts from such prohibition any authorization of appropriations to a federal entity if such authorization is not specifically targeted to a state, locality, or congressional district.
Output: A bill to adopt the seven immediate reforms recommended by the National Commission on Fiscal Responsibility and Reform to reduce spending and make the Federal government more efficient.