Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2023204204
2024187187
2025168168
2026149149
2027131131
2028114114
20299696
20307878
20316060
20324343
20332525
203477
2035-12-12
2036-31-31
2037-51-51
2038-70-70
2039-91-91
2040-112-112
2041-133-133
2042-154-154
2043-176-176
2044-198-198
2045-220-220
2046-243-243
2047-265-266
2048-288-290
2049-311-314
2050-333-338
2051-357-363
2052-380-388
2053-403-414
2054-427-440
2055-450-469
2056-474-498
2057-498-528
2058-522-558
2059-547-588
2060-572-619
2061-597-650
2062-623-682
2063-650-715
2064-677-748
2065-705-782
2066-733-816
2067-762-851
2068-791-886
2069-820-922
2070-850-958
2071-880-994
2072-911-1031
2073-942-1069
2074-974-1107
2075-1006-1146
2076-1039-1186
2077-1074-1226
2078-1108-1268
2079-1144-1311
2080-1181-1355
2081-1218-1400
2082-1256-1445
2083-1294-1491
2084-1333-1538
2085-1373-1585
2086-1413-1633
2087-1453-1682
2088-1494-1730
2089-1534-1779
2090-1574-1827
2091-1613-1874
2092-1651-1921
2093-1689-1966
2094-1726-2011
2095-1762-2055
2096-1798-2099
2097-1833-2142
2098-1868-2184
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