SALT II Sublimit Mutual Restraint Act of 1987

SALT II Sublimit Mutual Restraint Act of 1987 - Prohibits, within 60 days after enactment of this Act, the obligation or expenditure of funds through December 31, 1987, which would cause the United States to exceed the numerical sublimits on strategic launchers and platforms contained in the SALT II Treaty. Requires the President, within 30 days after enactment of this Act, to notify the Congress of his plans for carrying out this provision.

Directs the President, by October 15, 1987, to report to the Congress concerning dismantling actions taken by the United States and the Soviet Union to comply with the SALT II numerical sublimits.

Reaffirms the sense of the Congress that it is in U.S. national security interests to comply with the numerical sublimits of the SALT II Treaty as long as the Soviet Union does likewise. Encourages the President to pursue restraints on offensive nuclear forces with the Soviet Union until a new comprehensive nuclear arms agreement is concluded.

Waives all such numerical compliance if the President notifies the Congress, with an accompanying report, that the Soviet Union has exceeded the numerical sublimits.