Persian Gulf Security Cost Fairness Act

Persian Gulf Security Cost Fairness Act - Expresses the sense of Congress that the countries of the Gulf Cooperation Council that relied on the United States for their military protection in 1990 and 1991 and that continue to depend on the United States for their security and stability should share in the responsibility for that stability and security commensurate with their national capabilities.

Directs the President to seek to have each country in the Persian Gulf region to which the United States extends military protection take one or more specified financial and budgetary actions to increase their burden sharing.

Authorizes the President, in seeking such actions or in responding to a country's failure to undertake one or more of them, to: (1) reduce the end strength level of members of the armed forces assigned to the Persian Gulf region; (2) impose on the country fees or other charges similar to those such countries impose on U.S. forces stationed in them; (3) suspend, modify, or terminate any bilateral security agreement the United States has with that country; or (4) reduce any U.S. bilateral assistance appropriated for that country.