White House officials who have been debating whether to create a presidential commission to study how to reduce the federal deficit are likely to drop the idea because Congress has created a similiar commission.

Presidential spokesman Marlin Fitzwater said yesterday it is unlikely the administration will press its proposal for a deficit commission and acknowledged that creation of the congressional panel is one of the reasons the White House commission "most likely won't happen."

Fitzwater said he was aware of the congressional commission when he told reporters earlier this week that senior White House staffers were reviewing the idea of a deficit panel. But he said the administration viewed its proposal as distinct from the commission created by the the 1987 Budget Reconciliation Act because only two of that panel's 12 initial members would be named by President Reagan.

A spokeswoman for Senate Minority Leader Robert J. Dole (R-Kan.), who sponsored legislation for the congressional panel, yesterday expressed surprise that the president's staff was debating the idea of a deficit commission without mentioning the congressional panel.

"Certainly it was not the single most important provision of the bill," Dole spokeswoman Dale Tate said. "But certainly they were aware of it. It was part of the {Senate} leadership package."

A senior administration official said the administration is debating whether to throw its full support behind the congressional panel or to seek modifications of its membership and how it would operate. Since changes probably would require a new law, that course is unlikely, the official said.

The congressional panel, created by the act Reagan signed Dec. 22, will be called the National Economic Commission and will have $1 million and a year from its March 1 formation to do its work. Congress is to name 10 of the initial members, Reagan two and two more are to be added by the next president.

Tate said the Senate GOP leadership had "lots of contact" with the White House as the proposal was being developed and the presidential staff was in on details of the commission composition and the deadline for its final report. Fitzwater said, however, that the administration had opposed the bill, citing the large number of congressional appointees.

The panel's mission is to "make specific recommendations regarding . . . (1) methods to reduce the federal budget deficit . . . {and} (2) a means of ensuring that the burden of achieving the federal budget deficit reduction goals . . . does not undermine economic growth."

Tate said yesterday that she was unaware of any congressional appointees having been named, although the names of several candidates have begun to be circulated on Capitol Hill.

Rep. Buddy MacKay (D-Fla.), part of a House faction that has pushed for stronger measures to reduce the federal deficit, said establishment of the economic commission "was the most important thing to come out of the budget summit" between the Reagan administration and congressional leaders.

"The summit showed the extent to which we are effectively stalemated," he said. "The best hope is a high prestige, high credibility, bipartisan commission that can . . . look at the long-term dimensions of this issue."