Expressing the sense of Congress that Congress and the President should increase basic pay for members of the Armed Forces.

Expresses the sense of Congress that Congress and the President should: (1) increase basic pay for members of all military components and the Coast Guard by 3.5%, effective January 1, 2008; and (2) increase basic pay for all such components during FY2009-FY2012 by at least one-half of 1% more than the raise calculated under the Employment Cost Index.