Proposed Provision: Eliminate the taxable maximum in years 2016 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

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

Year Present Law Provision
2015308308
2016298298
2017280297
2018264297
2019248297
2020233296
2021219296
2022204295
2023189293
2024173290
2025157287
2026142284
2027126281
2028110278
202994275
203077272
203160268
203242264
203323259
20344255
2035-16249
2036-36244
2037-57238
2038-78232
2039-100226
2040-122220
2041-144214
2042-166209
2043-189203
2044-211197
2045-234191
2046-257185
2047-280179
2048-303173
2049-327166
2050-351160
2051-375153
2052-398146
2053-423139
2054-447132
2055-472124
2056-496116
2057-522107
2058-54898
2059-57488
2060-60179
2061-62968
2062-65758
2063-68547
2064-71436
2065-74424
2066-77412
2067-804-1
2068-835-14
2069-867-27
2070-899-41
2071-932-55
2072-965-70
2073-1000-85
2074-1035-100
2075-1072-116
2076-1110-132
2077-1148-148
2078-1188-165
2079-1228-182
2080-1268-199
2081-1309-216
2082-1350-233
2083-1391-251
2084-1432-269
2085-1472-287
2086-1514-305
2087-1555-324
2088-1597-343
2089-1640-362
2090-1683-382
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