This bill, titled the Federal Adjustment of Income Rates Act (FAIR Act), aims to provide a comprehensive pay increase for federal employees in 2026. It proposes a total adjustment of 4.3 percent to the rates of pay for various federal workers. Specifically, the legislation mandates a 3.3 percent increase in the rates of basic pay for employees under statutory pay systems for calendar year 2026. Concurrently, it directs a 3.3 percent increase for prevailing rate employees for fiscal year 2026, overriding standard wage survey requirements. Furthermore, the bill includes an additional 1 percent adjustment for locality pay for calendar year 2026, contributing to the overall 4.3 percent increase.