Allies Fair Share Defense Act of 1987

Allies Fair Share Defense Act of 1987 - Prohibits, after the end of FY 1988, the funding of U.S. armed forces assigned to permanent duty in member nations of the North Atlantic Treaty Organization (NATO) or in Japan at levels in excess of a specified troop strength. Directs that for 1990, 1991, and 1992, such levels shall be reduced by a specified number each year. Waives such reduction in troop strength for NATO countries if either of the following occur: (1) each member nation of NATO has increased its defense spending by a specified amount; or (2) the Secretary of Defense certifies to the Congress in writing that the member nations of NATO other than the United States have accomplished certain objectives relating to the increase of defensive measures and the overall significant improvement of their conventional defense capability. Waives such reduction in troop strength for Japan if Japan has either: (1) increased its defense spending by a specified amount; or (2) increased its capability to defend its sea lanes to specified distances.

Provides for smaller reductions of U.S. armed forces in NATO-member countries and Japan if at least one of the above-described objectives have been met, or if some, but not all, of the objectives have been met.

Directs the Secretary of Defense, no later than March 1 of each of the calendar years 1988 through 1992, to report to the Senate and House Armed Services Committees on the status of the following matters as of January 1 of the year in which the report is submitted: (1) the supply of aerial and ground munitions of NATO-member nations; (2) the number of emergency operating facilities and semihardened aircraft shelters in such nations; and (3) other measures taken by such nations to improve their conventional defense capability. Outlines further information to be included in such reports concerning the attainment of objectives specified under this Act.

States that this Act shall not apply if: (1) a declaration of war by the United States is in effect; (2) there is an armed attack on any NATO-member nation or Japan; or (3) the President declares a national state of emergency and immediately informs the Congress of such action and the reasons therefor.