Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2018-2037, until the rate reaches 14.4 percent in 2037 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2012 | 340 | 340 |
2013 | 329 | 329 |
2014 | 315 | 315 |
2015 | 302 | 302 |
2016 | 290 | 290 |
2017 | 277 | 277 |
2018 | 265 | 265 |
2019 | 253 | 254 |
2020 | 240 | 242 |
2021 | 227 | 231 |
2022 | 212 | 219 |
2023 | 197 | 206 |
2024 | 181 | 194 |
2025 | 164 | 181 |
2026 | 147 | 168 |
2027 | 129 | 155 |
2028 | 110 | 142 |
2029 | 90 | 128 |
2030 | 70 | 115 |
2031 | 49 | 101 |
2032 | 27 | 87 |
2033 | 5 | 73 |
2034 | -18 | 60 |
2035 | -41 | 46 |
2036 | -65 | 33 |
2037 | -89 | 21 |
2038 | -114 | 8 |
2039 | -138 | -4 |
2040 | -163 | -17 |
2041 | -189 | -29 |
2042 | -215 | -41 |
2043 | -240 | -54 |
2044 | -266 | -66 |
2045 | -292 | -79 |
2046 | -319 | -91 |
2047 | -346 | -104 |
2048 | -373 | -116 |
2049 | -400 | -129 |
2050 | -428 | -141 |
2051 | -456 | -154 |
2052 | -484 | -167 |
2053 | -512 | -180 |
2054 | -540 | -193 |
2055 | -569 | -206 |
2056 | -598 | -219 |
2057 | -628 | -233 |
2058 | -657 | -247 |
2059 | -688 | -261 |
2060 | -719 | -275 |
2061 | -750 | -290 |
2062 | -782 | -305 |
2063 | -814 | -320 |
2064 | -847 | -335 |
2065 | -880 | -350 |
2066 | -913 | -365 |
2067 | -946 | -381 |
2068 | -980 | -397 |
2069 | -1014 | -413 |
2070 | -1049 | -429 |
2071 | -1084 | -446 |
2072 | -1120 | -463 |
2073 | -1156 | -481 |
2074 | -1193 | -498 |
2075 | -1230 | -516 |
2076 | -1268 | -535 |
2077 | -1307 | -554 |
2078 | -1346 | -573 |
2079 | -1385 | -592 |
2080 | -1425 | -611 |
2081 | -1465 | -631 |
2082 | -1505 | -651 |
2083 | -1547 | -672 |
2084 | -1588 | -693 |
2085 | -1631 | -714 |
2086 | -1673 | -736 |
2087 | -1717 | -758 |
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