Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2021-2040, until the rate reaches 14.4 percent in 2040 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2015 | 308 | 308 |
| 2016 | 298 | 298 |
| 2017 | 280 | 280 |
| 2018 | 264 | 264 |
| 2019 | 248 | 248 |
| 2020 | 233 | 233 |
| 2021 | 219 | 219 |
| 2022 | 204 | 204 |
| 2023 | 189 | 190 |
| 2024 | 173 | 177 |
| 2025 | 157 | 164 |
| 2026 | 142 | 151 |
| 2027 | 126 | 139 |
| 2028 | 110 | 127 |
| 2029 | 94 | 115 |
| 2030 | 77 | 104 |
| 2031 | 60 | 92 |
| 2032 | 42 | 81 |
| 2033 | 23 | 69 |
| 2034 | 4 | 57 |
| 2035 | -16 | 46 |
| 2036 | -36 | 35 |
| 2037 | -57 | 24 |
| 2038 | -78 | 13 |
| 2039 | -100 | 3 |
| 2040 | -122 | -7 |
| 2041 | -144 | -17 |
| 2042 | -166 | -26 |
| 2043 | -189 | -35 |
| 2044 | -211 | -45 |
| 2045 | -234 | -54 |
| 2046 | -257 | -63 |
| 2047 | -280 | -73 |
| 2048 | -303 | -82 |
| 2049 | -327 | -91 |
| 2050 | -351 | -101 |
| 2051 | -375 | -110 |
| 2052 | -398 | -119 |
| 2053 | -423 | -129 |
| 2054 | -447 | -139 |
| 2055 | -472 | -149 |
| 2056 | -496 | -159 |
| 2057 | -522 | -170 |
| 2058 | -548 | -181 |
| 2059 | -574 | -193 |
| 2060 | -601 | -205 |
| 2061 | -629 | -217 |
| 2062 | -657 | -229 |
| 2063 | -685 | -242 |
| 2064 | -714 | -256 |
| 2065 | -744 | -269 |
| 2066 | -774 | -283 |
| 2067 | -804 | -298 |
| 2068 | -835 | -313 |
| 2069 | -867 | -328 |
| 2070 | -899 | -344 |
| 2071 | -932 | -360 |
| 2072 | -965 | -376 |
| 2073 | -1000 | -394 |
| 2074 | -1035 | -411 |
| 2075 | -1072 | -429 |
| 2076 | -1110 | -448 |
| 2077 | -1148 | -467 |
| 2078 | -1188 | -487 |
| 2079 | -1228 | -507 |
| 2080 | -1268 | -527 |
| 2081 | -1309 | -547 |
| 2082 | -1350 | -568 |
| 2083 | -1391 | -588 |
| 2084 | -1432 | -609 |
| 2085 | -1472 | -629 |
| 2086 | -1514 | -650 |
| 2087 | -1555 | -671 |
| 2088 | -1597 | -693 |
| 2089 | -1640 | -715 |
| 2090 | -1683 | -737 |
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