Proposed Provision: E3.11. Beginning in 2028, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $438,600 in 2028), with the threshold wage-indexed after 2028. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 233 |
| 2023 | 217 | 217 |
| 2024 | 200 | 200 |
| 2025 | 183 | 183 |
| 2026 | 165 | 165 |
| 2027 | 148 | 148 |
| 2028 | 130 | 130 |
| 2029 | 112 | 113 |
| 2030 | 94 | 96 |
| 2031 | 76 | 79 |
| 2032 | 58 | 62 |
| 2033 | 39 | 45 |
| 2034 | 20 | 27 |
| 2035 | 1 | 10 |
| 2036 | -19 | -9 |
| 2037 | -38 | -28 |
| 2038 | -59 | -47 |
| 2039 | -80 | -66 |
| 2040 | -101 | -86 |
| 2041 | -122 | -106 |
| 2042 | -144 | -126 |
| 2043 | -166 | -147 |
| 2044 | -188 | -168 |
| 2045 | -210 | -188 |
| 2046 | -232 | -209 |
| 2047 | -255 | -230 |
| 2048 | -277 | -251 |
| 2049 | -299 | -272 |
| 2050 | -322 | -293 |
| 2051 | -344 | -314 |
| 2052 | -367 | -335 |
| 2053 | -389 | -356 |
| 2054 | -412 | -377 |
| 2055 | -434 | -399 |
| 2056 | -457 | -420 |
| 2057 | -480 | -442 |
| 2058 | -504 | -464 |
| 2059 | -527 | -486 |
| 2060 | -551 | -508 |
| 2061 | -575 | -531 |
| 2062 | -599 | -554 |
| 2063 | -624 | -578 |
| 2064 | -650 | -602 |
| 2065 | -676 | -626 |
| 2066 | -702 | -651 |
| 2067 | -728 | -676 |
| 2068 | -755 | -701 |
| 2069 | -782 | -727 |
| 2070 | -809 | -753 |
| 2071 | -837 | -779 |
| 2072 | -866 | -807 |
| 2073 | -895 | -834 |
| 2074 | -925 | -862 |
| 2075 | -955 | -891 |
| 2076 | -986 | -921 |
| 2077 | -1018 | -951 |
| 2078 | -1051 | -982 |
| 2079 | -1084 | -1014 |
| 2080 | -1119 | -1046 |
| 2081 | -1154 | -1080 |
| 2082 | -1190 | -1114 |
| 2083 | -1226 | -1148 |
| 2084 | -1263 | -1183 |
| 2085 | -1300 | -1218 |
| 2086 | -1337 | -1253 |
| 2087 | -1374 | -1289 |
| 2088 | -1411 | -1324 |
| 2089 | -1448 | -1358 |
| 2090 | -1484 | -1393 |
| 2091 | -1520 | -1426 |
| 2092 | -1554 | -1459 |
| 2093 | -1589 | -1492 |
| 2094 | -1623 | -1524 |
| 2095 | -1657 | -1556 |
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