Budget Procedures Improvement Act of 1987

[AI summary unavailable — showing source text] Budget Procedures Improvement Act of 1987 - Amends the Congressional Budget Act of 1974 to revise the Federal and congressional budget process by: (1) establishing a two-year budgeting cycle and timetable beginning in the 101st Congress; (2) providing for separate consideration of authorizations, appropriations, concurrent resolutions on the budget, and the reconciliation bill or resolution; and (3) requiring the Congress to complete action on a second concurrent resolution on the budget that reaffirms or revises the first budget resolution. Defines the two-fiscal-year budget period as the period of two consecutive fiscal years beginning on October 1 of any even-numbered year. Requires the Director of the Congressional Budget Office, on or before April 15 of each odd-numbered year, to transmit to the Committees on the Budget of the House and of the Senate a fiscal policy report for each fiscal year in the succeeding two-fiscal-year budget period. Requires the Director, on March 31 of each even-numbered year, to transmit to such Committees any revisions necessary due to changing economic conditions or revisions in the President's budget. Requires each Budget Committee to report to i…