Economic Challenges Act of 1987

Economic Challenges Act of 1987 - Establishes the National Commission on Economic Challenges (Commission).

Specifies the duties of such Commission as: (1) studying and analyzing various global economic problems; (2) recommending policies and programs to reduce the Federal budget deficit, correct imbalances in foreign trade, and stimulate productivity growth rates; and (3) recommending policies and programs which will make American business and industries more efficient and productive in general and more competitive on the world market.

Provides that the Commission shall be composed of 15 members appointed by the President, the majority leader of the Senate, and the Speaker of the House. Provides that each shall appoint five members not more than three of whom shall be members of the same political party.

Sets forth administrative provisions concerning the organization and powers of such Commission. Sets forth provisions concerning the payment of travel expenses, the appointment of an executive director and staff, and the hiring of experts and consultants.

Requires the Commission to submit a report to the President and the Congress concerning the findings and conclusions of the Commission and such recommendations as it considers appropriate.