Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2030-2049, until the rate reaches 14.4 percent in 2049 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2024 | 188 | 188 |
2025 | 171 | 171 |
2026 | 152 | 152 |
2027 | 134 | 134 |
2028 | 117 | 117 |
2029 | 101 | 101 |
2030 | 84 | 84 |
2031 | 68 | 69 |
2032 | 53 | 54 |
2033 | 37 | 41 |
2034 | 22 | 28 |
2035 | 7 | 16 |
2036 | -9 | 3 |
2037 | -26 | -9 |
2038 | -43 | -22 |
2039 | -60 | -34 |
2040 | -78 | -46 |
2041 | -96 | -58 |
2042 | -115 | -70 |
2043 | -135 | -81 |
2044 | -154 | -92 |
2045 | -174 | -103 |
2046 | -194 | -114 |
2047 | -215 | -124 |
2048 | -235 | -134 |
2049 | -256 | -144 |
2050 | -277 | -153 |
2051 | -299 | -162 |
2052 | -320 | -172 |
2053 | -342 | -181 |
2054 | -364 | -191 |
2055 | -386 | -202 |
2056 | -409 | -212 |
2057 | -431 | -223 |
2058 | -455 | -235 |
2059 | -478 | -247 |
2060 | -502 | -259 |
2061 | -527 | -272 |
2062 | -553 | -285 |
2063 | -579 | -299 |
2064 | -605 | -313 |
2065 | -632 | -328 |
2066 | -660 | -343 |
2067 | -688 | -358 |
2068 | -716 | -374 |
2069 | -745 | -390 |
2070 | -774 | -406 |
2071 | -803 | -423 |
2072 | -834 | -440 |
2073 | -864 | -458 |
2074 | -895 | -476 |
2075 | -927 | -495 |
2076 | -960 | -514 |
2077 | -993 | -533 |
2078 | -1027 | -554 |
2079 | -1062 | -574 |
2080 | -1098 | -595 |
2081 | -1134 | -617 |
2082 | -1172 | -639 |
2083 | -1209 | -661 |
2084 | -1248 | -683 |
2085 | -1287 | -706 |
2086 | -1327 | -729 |
2087 | -1368 | -753 |
2088 | -1409 | -776 |
2089 | -1450 | -800 |
2090 | -1491 | -823 |
2091 | -1532 | -846 |
2092 | -1573 | -869 |
2093 | -1612 | -891 |
2094 | -1651 | -913 |
2095 | -1689 | -934 |
2096 | -1727 | -955 |
2097 | -1764 | -976 |
2098 | -1801 | -996 |
2099 | -1838 | -1017 |
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