Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) to 14.6 percent in 2024-2053, and to 16.8 percent in years 2054 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2011 | 353 | 353 |
2012 | 347 | 347 |
2013 | 341 | 341 |
2014 | 334 | 334 |
2015 | 328 | 328 |
2016 | 321 | 321 |
2017 | 314 | 314 |
2018 | 306 | 306 |
2019 | 296 | 296 |
2020 | 284 | 284 |
2021 | 272 | 272 |
2022 | 259 | 259 |
2023 | 245 | 245 |
2024 | 230 | 230 |
2025 | 214 | 227 |
2026 | 198 | 224 |
2027 | 181 | 219 |
2028 | 164 | 214 |
2029 | 145 | 209 |
2030 | 127 | 202 |
2031 | 107 | 196 |
2032 | 87 | 188 |
2033 | 67 | 181 |
2034 | 46 | 173 |
2035 | 25 | 166 |
2036 | 4 | 158 |
2037 | -18 | 150 |
2038 | -40 | 142 |
2039 | -62 | 134 |
2040 | -85 | 127 |
2041 | -108 | 119 |
2042 | -130 | 112 |
2043 | -153 | 105 |
2044 | -176 | 98 |
2045 | -200 | 90 |
2046 | -223 | 83 |
2047 | -247 | 76 |
2048 | -271 | 69 |
2049 | -295 | 63 |
2050 | -319 | 56 |
2051 | -343 | 49 |
2052 | -368 | 42 |
2053 | -393 | 34 |
2054 | -418 | 27 |
2055 | -443 | 31 |
2056 | -468 | 36 |
2057 | -494 | 41 |
2058 | -521 | 46 |
2059 | -548 | 50 |
2060 | -575 | 55 |
2061 | -602 | 60 |
2062 | -630 | 65 |
2063 | -659 | 69 |
2064 | -687 | 74 |
2065 | -716 | 79 |
2066 | -746 | 84 |
2067 | -775 | 88 |
2068 | -805 | 93 |
2069 | -835 | 97 |
2070 | -866 | 102 |
2071 | -897 | 106 |
2072 | -928 | 110 |
2073 | -960 | 114 |
2074 | -992 | 118 |
2075 | -1025 | 122 |
2076 | -1058 | 126 |
2077 | -1092 | 129 |
2078 | -1126 | 133 |
2079 | -1161 | 136 |
2080 | -1196 | 139 |
2081 | -1232 | 142 |
2082 | -1268 | 144 |
2083 | -1305 | 147 |
2084 | -1342 | 149 |
2085 | -1380 | 152 |
2086 | -1419 | 154 |
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