FISCAL YEAR 2008 INCREASE IN MILITARY BASIC PAY.

SEC. 601. FISCAL YEAR 2008 INCREASE IN MILITARY BASIC PAY.(a) Rescission of Prior Basic Pay Adjustment.—The adjustment made as of January 1, 2008, pursuant to section 4 of Executive Order No. 13454 (issued January 4, 2008), in elements of compensation of members of the uniformed services pursuant to section 1009 of title 37, United States Code, is hereby rescinded in order to permit the 3.5 percent increase in monthly basic pay for members of the uniformed services required by subsection (b) to take effect as intended.(b) Increase in Basic Pay.—Effective as of January 1, 2008, the rates of monthly basic pay for members of the uniformed services are increased by 3.5 percent.