Truck and Bus Safety Act of 1987 - Directs the Secretary of Transportation to: (1) include within the ambit of Federal motor carrier safety regulations motor carriers and drivers operating wholly within a municipality or commercial zone of a municipality (with specified exceptions); (2) initiate rulemaking proceedings on the need to adopt specified methods for safety improvement (including vehicle onboard monitoring devices in trucks to be used solely for the purpose of monitoring driver productivity); and (3) report to the Congress by September 30, 1988, on the need to adopt methods for improving braking performance standards for trucks and truck trailers.
Mandates that the appropriate authorizing congressional committees conduct oversight hearings by October 31, 1988, to obtain public testimony regarding the Secretary's report.
Directs the Secretary to initiate rulemaking proceedings by December 1, 1988, regarding the need to adopt methods for improving braking performance standards for trucks and truck trailers.