Detailed Single Year Tables
Description of 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.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.11 | -2.25 | 134 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.42 | 13.13 | -2.28 | 117 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.47 | 13.16 | -2.31 | 101 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 15.53 | 13.27 | -2.26 | 84 | 0.00 | 0.09 | 0.09 | ||
| 2031 | 15.58 | 13.39 | -2.19 | 69 | -0.00 | 0.19 | 0.19 | ||
| 2032 | 15.60 | 13.50 | -2.10 | 54 | -0.00 | 0.28 | 0.28 | ||
| 2033 | 15.66 | 13.64 | -2.02 | 41 | -0.00 | 0.38 | 0.38 | ||
| 2034 | 15.77 | 13.75 | -2.02 | 28 | -0.00 | 0.47 | 0.48 | ||
| 2035 | 15.88 | 13.86 | -2.03 | 16 | -0.00 | 0.57 | 0.57 | ||
| 2036 | 15.99 | 13.96 | -2.03 | 3 | -0.00 | 0.67 | 0.67 | ||
| 2037 | 16.09 | 14.06 | -2.02 | — | -0.00 | 0.76 | 0.76 | ||
| 2038 | 16.17 | 14.17 | -2.01 | — | -0.00 | 0.86 | 0.86 | ||
| 2039 | 16.25 | 14.27 | -1.98 | — | -0.00 | 0.95 | 0.96 | ||
| 2040 | 16.31 | 14.37 | -1.94 | — | -0.01 | 1.05 | 1.05 | ||
| 2041 | 16.38 | 14.47 | -1.90 | — | -0.01 | 1.14 | 1.15 | ||
| 2042 | 16.42 | 14.57 | -1.85 | — | -0.01 | 1.24 | 1.25 | ||
| 2043 | 16.47 | 14.67 | -1.80 | — | -0.01 | 1.33 | 1.34 | ||
| 2044 | 16.50 | 14.77 | -1.74 | — | -0.01 | 1.43 | 1.44 | ||
| 2045 | 16.53 | 14.87 | -1.67 | — | -0.02 | 1.52 | 1.54 | ||
| 2046 | 16.57 | 14.96 | -1.60 | — | -0.02 | 1.62 | 1.64 | ||
| 2047 | 16.60 | 15.06 | -1.54 | — | -0.02 | 1.71 | 1.73 | ||
| 2048 | 16.64 | 15.16 | -1.48 | — | -0.03 | 1.80 | 1.83 | ||
| 2049 | 16.68 | 15.26 | -1.42 | — | -0.03 | 1.90 | 1.93 | ||
| 2050 | 16.72 | 15.27 | -1.46 | — | -0.03 | 1.90 | 1.94 | ||
| 2051 | 16.77 | 15.27 | -1.50 | — | -0.04 | 1.90 | 1.94 | ||
| 2052 | 16.83 | 15.27 | -1.55 | — | -0.04 | 1.90 | 1.94 | ||
| 2053 | 16.89 | 15.28 | -1.61 | — | -0.05 | 1.90 | 1.95 | ||
| 2054 | 16.95 | 15.29 | -1.66 | — | -0.05 | 1.90 | 1.95 | ||
| 2055 | 17.02 | 15.29 | -1.73 | — | -0.06 | 1.90 | 1.96 | ||
| 2056 | 17.10 | 15.30 | -1.80 | — | -0.06 | 1.90 | 1.96 | ||
| 2057 | 17.18 | 15.30 | -1.87 | — | -0.07 | 1.90 | 1.97 | ||
| 2058 | 17.26 | 15.31 | -1.95 | — | -0.07 | 1.90 | 1.97 | ||
| 2059 | 17.34 | 15.32 | -2.02 | — | -0.07 | 1.90 | 1.97 | ||
| 2060 | 17.42 | 15.33 | -2.10 | — | -0.08 | 1.90 | 1.98 | ||
| 2061 | 17.50 | 15.33 | -2.17 | — | -0.08 | 1.90 | 1.98 | ||
| 2062 | 17.57 | 15.34 | -2.23 | — | -0.09 | 1.90 | 1.99 | ||
| 2063 | 17.63 | 15.34 | -2.29 | — | -0.09 | 1.90 | 1.99 | ||
| 2064 | 17.70 | 15.35 | -2.35 | — | -0.09 | 1.90 | 1.99 | ||
| 2065 | 17.76 | 15.35 | -2.40 | — | -0.10 | 1.90 | 2.00 | ||
| 2066 | 17.82 | 15.36 | -2.46 | — | -0.10 | 1.90 | 2.00 | ||
| 2067 | 17.88 | 15.36 | -2.52 | — | -0.10 | 1.90 | 2.00 | ||
| 2068 | 17.94 | 15.37 | -2.57 | — | -0.10 | 1.90 | 2.00 | ||
| 2069 | 18.01 | 15.37 | -2.63 | — | -0.11 | 1.90 | 2.01 | ||
| 2070 | 18.08 | 15.38 | -2.70 | — | -0.11 | 1.90 | 2.01 | ||
| 2071 | 18.14 | 15.38 | -2.76 | — | -0.11 | 1.90 | 2.01 | ||
| 2072 | 18.20 | 15.39 | -2.81 | — | -0.11 | 1.90 | 2.01 | ||
| 2073 | 18.26 | 15.39 | -2.87 | — | -0.11 | 1.90 | 2.01 | ||
| 2074 | 18.32 | 15.40 | -2.92 | — | -0.12 | 1.90 | 2.02 | ||
| 2075 | 18.37 | 15.40 | -2.96 | — | -0.12 | 1.90 | 2.02 | ||
| 2076 | 18.41 | 15.41 | -3.00 | — | -0.12 | 1.90 | 2.02 | ||
| 2077 | 18.44 | 15.41 | -3.03 | — | -0.12 | 1.90 | 2.02 | ||
| 2078 | 18.46 | 15.41 | -3.05 | — | -0.12 | 1.90 | 2.02 | ||
| 2079 | 18.47 | 15.41 | -3.06 | — | -0.12 | 1.90 | 2.02 | ||
| 2080 | 18.47 | 15.41 | -3.06 | — | -0.12 | 1.90 | 2.02 | ||
| 2081 | 18.47 | 15.41 | -3.05 | — | -0.12 | 1.90 | 2.02 | ||
| 2082 | 18.45 | 15.41 | -3.04 | — | -0.12 | 1.90 | 2.02 | ||
| 2083 | 18.42 | 15.41 | -3.01 | — | -0.12 | 1.90 | 2.02 | ||
| 2084 | 18.39 | 15.41 | -2.98 | — | -0.12 | 1.90 | 2.02 | ||
| 2085 | 18.35 | 15.41 | -2.94 | — | -0.12 | 1.90 | 2.02 | ||
| 2086 | 18.30 | 15.41 | -2.89 | — | -0.12 | 1.90 | 2.02 | ||
| 2087 | 18.24 | 15.40 | -2.84 | — | -0.12 | 1.90 | 2.02 | ||
| 2088 | 18.18 | 15.40 | -2.78 | — | -0.12 | 1.90 | 2.02 | ||
| 2089 | 18.12 | 15.39 | -2.73 | — | -0.12 | 1.90 | 2.02 | ||
| 2090 | 18.07 | 15.39 | -2.68 | — | -0.12 | 1.90 | 2.02 | ||
| 2091 | 18.02 | 15.39 | -2.63 | — | -0.12 | 1.90 | 2.02 | ||
| 2092 | 17.99 | 15.39 | -2.60 | — | -0.12 | 1.90 | 2.02 | ||
| 2093 | 17.96 | 15.38 | -2.58 | — | -0.12 | 1.90 | 2.02 | ||
| 2094 | 17.95 | 15.38 | -2.56 | — | -0.12 | 1.90 | 2.02 | ||
| 2095 | 17.95 | 15.38 | -2.56 | — | -0.12 | 1.90 | 2.02 | ||
| 2096 | 17.96 | 15.38 | -2.57 | — | -0.12 | 1.90 | 2.02 | ||
| 2097 | 17.98 | 15.39 | -2.59 | — | -0.12 | 1.90 | 2.02 | ||
| 2098 | 18.00 | 15.39 | -2.62 | — | -0.12 | 1.90 | 2.02 | ||
| 2099 | 18.04 | 15.39 | -2.65 | — | -0.12 | 1.90 | 2.02 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.24% | 15.23% | -2.00% | 2036 | -0.06% | 1.43% | 1.50% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.