When it comes to pay raises, Congress always plays the role of Grinch. The bill extends an existing pay freeze for Vice President Joe Biden, specifically, and senior political appointees broadly.
The president doesn't get an automatic pay raise, so they can't freeze it for him. But it also does extend the pay rate - they pay increases or pay freeze for pay increases for members of Congress. They've had a pay freeze since 2009, but most civil servants will see a small pay bump in 2016 thanks to a separate order from President Obama.