Section 1 Short title
This Act may be cited as the “Federal Adjustment of Income Rates Act of 2014” or the “FAIR Act”.
Federal Adjustment of Income Rates Act of 2014
A BILL
To increase the rates of pay under the General Schedule and for prevailing rate employees by 3.3 percent, and for other purposes.
Sec. 2 Adjustment to rates of pay
General schedule— For calendar year 2015, the percentage adjustment under section 5303 of title 5, United States Code, in the rates of basic pay under the General Schedule shall be 3.3 percent. Any adjustment made by the President with respect to calendar year 2015 pursuant to such section shall have no force or effect.
Prevailing rate employees— Notwithstanding the wage survey requirements under section 5343(b) of title 5, United States Code, for calendar year 2015, the rates of basic pay for prevailing rate employees in each wage area (as in effect on January 1, 2015 under section 5343(a) of such title) and the rates of basic pay under sections 5348 and 5349 of such title shall be increased by 3.3 percent. Any increase made by the President with respect to calendar year 2015 pursuant to section 5343(a), 5348, or 5349 of such title shall have no force or effect.