Department of Commerce Elimination Act

Department of Commerce Elimination Act - Abolishes the Department of Commerce and transfers its functions to the Director of the Office of Management and Budget.

Requires affected agencies to establish agency-wide priority placement programs for Federal employees affected by a reduction in force attributable to this Act.

Provides for the disposition of Department programs, functions, and agencies. Terminates functions not specifically continued by this Act.

Transfers to the Director for privatization: (1) all functions of the National Technical Information Service; and (2) National Telecommunications and Information Administration laboratories.

Redesignates the National Institute of Standards and Technology as the National Bureau of Standards.

Reestablishes the: (1) National Oceanic and Atmospheric Administration as an independent agency in the executive branch; and (2) U.S. Trade Administration in the executive branch as an independent establishment.

Establishes a Federal Statistical Service as an independent establishment in the executive branch.