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Summary Measures and Graphs

Description of Proposed Provision:
Apply the following payroll tax rates above the current-law taxable maximum: 2.0 percent in 2015, 3.0 percent in 2028, 3.5 percent in 2043, 4.5 percent in 2053, and 5.5 percent in 2063 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

Estimates based on the intermediate assumptions of the 2012 Trustees Report

Summary Measures
[As a percentage of taxable payroll]
Present Law Change from present law Results with this provision
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
-2.67 -4.50 0.70 1.15 -1.96 -3.36


graph of OASDI cost rates and income rates by year, under
                 present law and provision. click on graph to view underlying
                 data. graph of OASDI trust fund ratio by year, under present law
                 and provision. click on graph to view underlying data.
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Last reviewed or modified January 4, 2013