Detailed Single Year Tables
Description of Proposed Provision:
E3.2: Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2025-2034). Do not provide benefit credit for additional earnings taxed.
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 | 13.04 | -1.96 | 171 | 0.00 | 0.15 | 0.15 | ||
| 2026 | 15.20 | 13.36 | -1.84 | 153 | -0.00 | 0.29 | 0.29 | ||
| 2027 | 15.36 | 13.53 | -1.83 | 137 | -0.00 | 0.43 | 0.43 | ||
| 2028 | 15.42 | 13.68 | -1.73 | 123 | -0.00 | 0.55 | 0.55 | ||
| 2029 | 15.47 | 13.83 | -1.64 | 109 | -0.00 | 0.67 | 0.67 | ||
| 2030 | 15.53 | 13.94 | -1.58 | 97 | -0.00 | 0.76 | 0.77 | ||
| 2031 | 15.57 | 14.06 | -1.51 | 86 | -0.00 | 0.86 | 0.86 | ||
| 2032 | 15.60 | 14.17 | -1.43 | 75 | -0.00 | 0.95 | 0.95 | ||
| 2033 | 15.66 | 14.29 | -1.37 | 65 | -0.00 | 1.03 | 1.03 | ||
| 2034 | 15.77 | 14.38 | -1.39 | 56 | -0.01 | 1.10 | 1.11 | ||
| 2035 | 15.88 | 14.40 | -1.48 | 48 | -0.01 | 1.11 | 1.12 | ||
| 2036 | 15.98 | 14.41 | -1.57 | 39 | -0.01 | 1.11 | 1.12 | ||
| 2037 | 16.08 | 14.42 | -1.66 | 29 | -0.01 | 1.11 | 1.12 | ||
| 2038 | 16.16 | 14.42 | -1.74 | 19 | -0.01 | 1.11 | 1.13 | ||
| 2039 | 16.23 | 14.43 | -1.80 | 8 | -0.02 | 1.11 | 1.13 | ||
| 2040 | 16.30 | 14.44 | -1.87 | — | -0.02 | 1.11 | 1.13 | ||
| 2041 | 16.36 | 14.44 | -1.92 | — | -0.02 | 1.11 | 1.14 | ||
| 2042 | 16.41 | 14.45 | -1.96 | — | -0.02 | 1.12 | 1.14 | ||
| 2043 | 16.46 | 14.45 | -2.00 | — | -0.02 | 1.12 | 1.14 | ||
| 2044 | 16.49 | 14.46 | -2.03 | — | -0.03 | 1.12 | 1.14 | ||
| 2045 | 16.52 | 14.46 | -2.06 | — | -0.03 | 1.12 | 1.15 | ||
| 2046 | 16.56 | 14.47 | -2.09 | — | -0.03 | 1.12 | 1.15 | ||
| 2047 | 16.59 | 14.47 | -2.12 | — | -0.03 | 1.12 | 1.15 | ||
| 2048 | 16.63 | 14.48 | -2.15 | — | -0.03 | 1.12 | 1.16 | ||
| 2049 | 16.67 | 14.48 | -2.19 | — | -0.03 | 1.12 | 1.16 | ||
| 2050 | 16.72 | 14.49 | -2.23 | — | -0.04 | 1.13 | 1.16 | ||
| 2051 | 16.77 | 14.49 | -2.28 | — | -0.04 | 1.13 | 1.16 | ||
| 2052 | 16.83 | 14.50 | -2.33 | — | -0.04 | 1.13 | 1.17 | ||
| 2053 | 16.89 | 14.51 | -2.39 | — | -0.04 | 1.13 | 1.17 | ||
| 2054 | 16.96 | 14.51 | -2.45 | — | -0.04 | 1.13 | 1.17 | ||
| 2055 | 17.04 | 14.52 | -2.52 | — | -0.04 | 1.13 | 1.17 | ||
| 2056 | 17.12 | 14.53 | -2.59 | — | -0.04 | 1.13 | 1.17 | ||
| 2057 | 17.20 | 14.54 | -2.66 | — | -0.04 | 1.13 | 1.18 | ||
| 2058 | 17.29 | 14.54 | -2.74 | — | -0.04 | 1.13 | 1.18 | ||
| 2059 | 17.37 | 14.55 | -2.82 | — | -0.04 | 1.13 | 1.18 | ||
| 2060 | 17.46 | 14.56 | -2.90 | — | -0.04 | 1.13 | 1.18 | ||
| 2061 | 17.54 | 14.57 | -2.97 | — | -0.04 | 1.13 | 1.18 | ||
| 2062 | 17.61 | 14.57 | -3.04 | — | -0.04 | 1.14 | 1.18 | ||
| 2063 | 17.68 | 14.58 | -3.10 | — | -0.04 | 1.14 | 1.18 | ||
| 2064 | 17.75 | 14.59 | -3.16 | — | -0.04 | 1.14 | 1.18 | ||
| 2065 | 17.81 | 14.59 | -3.22 | — | -0.04 | 1.14 | 1.18 | ||
| 2066 | 17.87 | 14.60 | -3.28 | — | -0.04 | 1.14 | 1.18 | ||
| 2067 | 17.94 | 14.60 | -3.34 | — | -0.04 | 1.14 | 1.18 | ||
| 2068 | 18.00 | 14.61 | -3.40 | — | -0.04 | 1.14 | 1.18 | ||
| 2069 | 18.07 | 14.62 | -3.46 | — | -0.04 | 1.14 | 1.18 | ||
| 2070 | 18.14 | 14.62 | -3.52 | — | -0.04 | 1.14 | 1.18 | ||
| 2071 | 18.21 | 14.63 | -3.58 | — | -0.04 | 1.14 | 1.18 | ||
| 2072 | 18.27 | 14.63 | -3.64 | — | -0.04 | 1.14 | 1.18 | ||
| 2073 | 18.34 | 14.64 | -3.70 | — | -0.04 | 1.15 | 1.18 | ||
| 2074 | 18.39 | 14.65 | -3.75 | — | -0.04 | 1.15 | 1.18 | ||
| 2075 | 18.45 | 14.65 | -3.80 | — | -0.04 | 1.15 | 1.18 | ||
| 2076 | 18.49 | 14.65 | -3.83 | — | -0.04 | 1.15 | 1.19 | ||
| 2077 | 18.52 | 14.66 | -3.86 | — | -0.04 | 1.15 | 1.19 | ||
| 2078 | 18.55 | 14.66 | -3.88 | — | -0.04 | 1.15 | 1.19 | ||
| 2079 | 18.56 | 14.66 | -3.89 | — | -0.04 | 1.15 | 1.19 | ||
| 2080 | 18.56 | 14.67 | -3.89 | — | -0.04 | 1.15 | 1.19 | ||
| 2081 | 18.55 | 14.67 | -3.89 | — | -0.04 | 1.15 | 1.19 | ||
| 2082 | 18.54 | 14.67 | -3.87 | — | -0.04 | 1.15 | 1.19 | ||
| 2083 | 18.51 | 14.67 | -3.84 | — | -0.04 | 1.15 | 1.19 | ||
| 2084 | 18.48 | 14.67 | -3.81 | — | -0.03 | 1.15 | 1.19 | ||
| 2085 | 18.44 | 14.66 | -3.77 | — | -0.03 | 1.15 | 1.19 | ||
| 2086 | 18.39 | 14.66 | -3.72 | — | -0.03 | 1.15 | 1.19 | ||
| 2087 | 18.33 | 14.66 | -3.67 | — | -0.03 | 1.16 | 1.19 | ||
| 2088 | 18.27 | 14.66 | -3.61 | — | -0.03 | 1.16 | 1.19 | ||
| 2089 | 18.21 | 14.65 | -3.56 | — | -0.03 | 1.16 | 1.19 | ||
| 2090 | 18.16 | 14.65 | -3.51 | — | -0.03 | 1.16 | 1.19 | ||
| 2091 | 18.11 | 14.65 | -3.46 | — | -0.03 | 1.16 | 1.19 | ||
| 2092 | 18.07 | 14.64 | -3.43 | — | -0.03 | 1.16 | 1.19 | ||
| 2093 | 18.05 | 14.64 | -3.41 | — | -0.03 | 1.16 | 1.19 | ||
| 2094 | 18.04 | 14.64 | -3.39 | — | -0.03 | 1.16 | 1.19 | ||
| 2095 | 18.03 | 14.64 | -3.39 | — | -0.03 | 1.16 | 1.19 | ||
| 2096 | 18.04 | 14.65 | -3.40 | — | -0.03 | 1.16 | 1.19 | ||
| 2097 | 18.06 | 14.65 | -3.42 | — | -0.03 | 1.16 | 1.19 | ||
| 2098 | 18.09 | 14.65 | -3.44 | — | -0.03 | 1.16 | 1.19 | ||
| 2099 | 18.13 | 14.65 | -3.47 | — | -0.03 | 1.16 | 1.20 | ||
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 | 17.27% | 14.85% | -2.42% | 2039 | -0.03% | 1.05% | 1.08% | ||
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.