Proposed Provision: E2.17. Apply 12.4 percent payroll tax rate on earnings above $400,000 starting in 2024 and tax all earnings once the current-law taxable maximum exceeds $400,000. Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2023204204
2024187187
2025168175
2026149164
2027131153
2028114143
202996134
203078124
203160115
203243105
20332596
2034787
2035-1279
2036-3171
2037-5162
2038-7054
2039-9146
2040-11237
2041-13329
2042-15421
2043-17614
2044-1986
2045-220-1
2046-243-7
2047-265-14
2048-288-20
2049-311-26
2050-333-32
2051-357-39
2052-380-45
2053-403-52
2054-427-59
2055-450-67
2056-474-74
2057-498-82
2058-522-90
2059-547-99
2060-572-108
2061-597-118
2062-623-127
2063-650-138
2064-677-148
2065-705-159
2066-733-171
2067-762-182
2068-791-194
2069-820-207
2070-850-219
2071-880-232
2072-911-246
2073-942-259
2074-974-273
2075-1006-288
2076-1039-302
2077-1074-317
2078-1108-333
2079-1144-348
2080-1181-364
2081-1218-380
2082-1256-397
2083-1294-413
2084-1333-429
2085-1373-446
2086-1413-462
2087-1453-478
2088-1494-495
2089-1534-511
2090-1574-526
2091-1613-541
2092-1651-556
2093-1689-571
2094-1726-585
2095-1762-598
2096-1798-612
2097-1833-625
2098-1868-639
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