Proposed Provision: H5. Beginning in 2031, for single/head-of-household/married-filing-separate taxpayers with MAGI of $250,000 or more and joint filers with MAGI of $500,000 or more, include up to the remaining 15 percent of Social Security benefits in taxable income (increased from up to 85 percent of benefits taxable under current law). In subsequent years, update these thresholds for growth in wages (AWI). Revenue from this provision would be credited to the Social Security trust funds. Current law taxation of up to 85 percent of Social Security benefits would remain unchanged.

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

Year Current Law Provision
2024188188
2025171171
2026152152
2027134134
2028117117
2029101101
20308484
20316868
20325353
20333738
20342223
203577
2036-9-9
2037-26-25
2038-43-42
2039-60-59
2040-78-77
2041-96-95
2042-115-114
2043-135-133
2044-154-153
2045-174-173
2046-194-193
2047-215-213
2048-235-234
2049-256-254
2050-277-275
2051-299-296
2052-320-318
2053-342-339
2054-364-361
2055-386-383
2056-409-406
2057-431-428
2058-455-452
2059-478-475
2060-502-499
2061-527-524
2062-553-549
2063-579-575
2064-605-601
2065-632-628
2066-660-656
2067-688-683
2068-716-712
2069-745-740
2070-774-769
2071-803-799
2072-834-829
2073-864-859
2074-895-890
2075-927-922
2076-960-954
2077-993-987
2078-1027-1021
2079-1062-1056
2080-1098-1092
2081-1134-1128
2082-1172-1165
2083-1209-1203
2084-1248-1241
2085-1287-1280
2086-1327-1320
2087-1368-1361
2088-1409-1402
2089-1450-1443
2090-1491-1484
2091-1532-1524
2092-1573-1564
2093-1612-1604
2094-1651-1642
2095-1689-1680
2096-1727-1718
2097-1764-1755
2098-1801-1792
2099-1838-1828
back