Proposed Provision: E1.9. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2025-2048, until the rate reaches 14.8 percent in 2048 and later.

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

Year Current Law Provision
2021253253
2022231231
2023214214
2024196196
2025178178
2026159160
2027141143
2028122126
2029104109
20308593
20316677
20324662
20332747
2034732
2035-1317
2036-333
2037-54-11
2038-76-25
2039-97-38
2040-119-51
2041-142-64
2042-165-77
2043-188-90
2044-211-101
2045-235-113
2046-258-124
2047-282-134
2048-306-144
2049-330-154
2050-354-164
2051-378-173
2052-403-183
2053-427-193
2054-452-203
2055-477-214
2056-502-224
2057-527-234
2058-552-245
2059-578-256
2060-604-267
2061-630-279
2062-657-291
2063-684-303
2064-712-315
2065-740-328
2066-768-341
2067-796-354
2068-825-368
2069-855-382
2070-884-396
2071-914-410
2072-945-425
2073-976-440
2074-1007-456
2075-1039-471
2076-1071-488
2077-1105-505
2078-1139-522
2079-1175-540
2080-1211-558
2081-1248-576
2082-1286-595
2083-1324-614
2084-1363-633
2085-1403-652
2086-1443-671
2087-1483-690
2088-1524-710
2089-1564-729
2090-1604-747
2091-1643-765
2092-1681-782
2093-1718-799
2094-1754-815
2095-1789-831
2096-1825-847
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