There are two separate versions under consideration by Congress for U.S. Military basic pay raises in 2007. The Senate version includes a 2.2 across-the-board pay raise in basic pay, and the House version includes a 2.7 percent raise. Regardless of which version is ultimately approved, the raise will be effective on January 1, 2007.
The differences between the House and Senate versions will have to be worked out in a House/Senate Conference Committee. Once that's done, the compromised bill is voted on by the full House and full Senate. If both approve the final bill, it goes to the President for signature. Ideally, this should be accomplished by 30 September (the last day of the fiscal year), but Congress does not have a very good track record when it comes to approving the annual Military Authorization Act on time. However, as long as the bill is signed into law before January 1, the pay raises should be on time.