II 118th CONGRESS 1st Session S. 124 IN THE SENATE OF THE UNITED STATES January 26, 2023 Mr. Schatz (for himself, Ms. Baldwin , Mr. Padilla , Ms. Warren , Mr. Fetterman , Mr. Sanders , Mr. Kaine , Mr. Blumenthal , Mr. Van Hollen , Mr. Cardin , Mr. Casey , Mr. Whitehouse , Mr. Brown , Mr. Luján , Mr. Heinrich , and Mr. Warner ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To increase the rates of pay under the statutory pay systems and for prevailing rate employees by 8.7 percent, and for other purposes.

1. Short title This Act may be cited as the Federal Adjustment of Income Rates Act or the FAIR Act . 2. Adjustment to rates of pay (a) Statutory pay systems For calendar year 2024, the percentage adjustment under section 5303 of title 5, United States Code, in the rates of basic pay under the statutory pay systems (as defined in section 5302 of title 5, United States Code) shall be 4.7 percent. (b) Prevailing rate employees Notwithstanding the wage survey requirements under section 5343(b) of title 5, United States Code, for fiscal year 2024, the rates of basic pay (as in effect on the last day of fiscal year 2023 under section 5343(a) of such title) for prevailing rate employees in each wage area and the rates of basic pay under sections 5348 and 5349 of such title shall be increased by 4.7 percent. 3. Adjustment to locality pay For calendar year 2024, the percentage adjustment under section 5304 of title 5, United States Code, shall be an increase of 4.0 percent.