To increase the rates of pay under the statutory pay systems and for prevailing rate employees by 3.2 percent, and for other purposes.

Federal Adjustment of Income Rates Act or the FAIR Act This bill increases the rates of basic pay for federal employees under the statutory pay systems (relating to the General Schedule, the U.S. Foreign Service, and the Veterans Health Administration) and for prevailing rate employees by 2% for calendar year 2018 and FY2018, respectively. The percentage adjustment for locality-based comparability payments for calendar year 2018 shall be an increase of 1.2%.