Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2018-2023, until the rate reaches 13.0 percent for 2023 and later.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2015	14.13	12.82	-1.31	308	0.00	0.00	0.00
2016	13.88	12.88	-1.00	298	0.00	0.00	0.00
2017	13.89	12.91	-0.98	280	0.00	0.00	0.00
2018	13.97	13.03	-0.94	264	0.00	0.09	0.09
2019	14.09	13.14	-0.95	249	0.00	0.19	0.19
2020	14.23	13.25	-0.98	235	0.00	0.28	0.28
2021	14.34	13.36	-0.98	222	0.00	0.38	0.38
2022	14.52	13.49	-1.03	210	0.00	0.47	0.47
2023	14.72	13.60	-1.12	198	0.00	0.57	0.57
2024	14.95	13.63	-1.32	186	0.00	0.57	0.57
2025	15.16	13.65	-1.51	174	0.00	0.57	0.57
2026	15.36	13.67	-1.69	162	0.00	0.57	0.57
2027	15.56	13.68	-1.87	149	0.00	0.57	0.57
2028	15.75	13.70	-2.05	137	0.00	0.57	0.58
2029	15.93	13.71	-2.21	124	0.00	0.57	0.58
2030	16.09	13.73	-2.37	111	0.00	0.57	0.58
2031	16.24	13.74	-2.50	97	0.00	0.57	0.58
2032	16.37	13.75	-2.62	83	0.00	0.57	0.58
2033	16.47	13.76	-2.72	68	0.00	0.57	0.58
2034	16.55	13.76	-2.78	52	0.00	0.57	0.58
2035	16.62	13.77	-2.84	36	0.00	0.57	0.58
2036	16.67	13.78	-2.90	20	0.00	0.57	0.58
2037	16.71	13.78	-2.93	3	-0.01	0.57	0.58
2038	16.72	13.78	-2.94	----	-0.01	0.57	0.58
2039	16.72	13.79	-2.93	----	-0.01	0.57	0.58
2040	16.71	13.79	-2.92	----	-0.01	0.57	0.58
2041	16.68	13.79	-2.89	----	-0.01	0.57	0.58
2042	16.66	13.79	-2.87	----	-0.01	0.57	0.58
2043	16.63	13.79	-2.84	----	-0.01	0.57	0.58
2044	16.61	13.79	-2.82	----	-0.01	0.57	0.58
2045	16.59	13.79	-2.80	----	-0.01	0.57	0.58
2046	16.56	13.79	-2.77	----	-0.01	0.57	0.58
2047	16.55	13.79	-2.76	----	-0.01	0.57	0.58
2048	16.54	13.79	-2.75	----	-0.01	0.57	0.58
2049	16.53	13.79	-2.74	----	-0.01	0.57	0.59
2050	16.53	13.79	-2.74	----	-0.01	0.57	0.59
2051	16.54	13.80	-2.74	----	-0.01	0.57	0.59
2052	16.56	13.80	-2.76	----	-0.01	0.57	0.59
2053	16.59	13.80	-2.79	----	-0.01	0.57	0.59
2054	16.63	13.80	-2.82	----	-0.01	0.57	0.59
2055	16.67	13.81	-2.87	----	-0.02	0.57	0.59
2056	16.72	13.81	-2.91	----	-0.02	0.57	0.59
2057	16.78	13.82	-2.96	----	-0.02	0.57	0.59
2058	16.83	13.82	-3.01	----	-0.02	0.57	0.59
2059	16.88	13.82	-3.06	----	-0.02	0.57	0.59
2060	16.93	13.83	-3.11	----	-0.02	0.57	0.59
2061	16.99	13.83	-3.15	----	-0.02	0.57	0.59
2062	17.04	13.83	-3.20	----	-0.02	0.57	0.59
2063	17.09	13.84	-3.25	----	-0.02	0.57	0.60
2064	17.14	13.84	-3.30	----	-0.02	0.57	0.60
2065	17.20	13.84	-3.35	----	-0.02	0.57	0.60
2066	17.25	13.85	-3.40	----	-0.02	0.58	0.60
2067	17.31	13.85	-3.46	----	-0.02	0.58	0.60
2068	17.37	13.86	-3.51	----	-0.02	0.58	0.60
2069	17.42	13.86	-3.56	----	-0.02	0.58	0.60
2070	17.48	13.86	-3.61	----	-0.02	0.58	0.60
2071	17.53	13.87	-3.66	----	-0.02	0.58	0.60
2072	17.57	13.87	-3.70	----	-0.02	0.58	0.60
2073	17.61	13.87	-3.74	----	-0.02	0.58	0.60
2074	17.64	13.88	-3.76	----	-0.02	0.58	0.60
2075	17.66	13.88	-3.78	----	-0.02	0.58	0.60
2076	17.67	13.88	-3.79	----	-0.02	0.58	0.60
2077	17.68	13.88	-3.80	----	-0.02	0.58	0.60
2078	17.68	13.88	-3.80	----	-0.02	0.58	0.60
2079	17.68	13.88	-3.80	----	-0.02	0.58	0.60
2080	17.68	13.88	-3.80	----	-0.02	0.58	0.60
2081	17.69	13.88	-3.81	----	-0.02	0.58	0.60
2082	17.70	13.88	-3.82	----	-0.02	0.58	0.60
2083	17.72	13.88	-3.84	----	-0.02	0.58	0.60
2084	17.75	13.88	-3.87	----	-0.02	0.58	0.60
2085	17.78	13.89	-3.90	----	-0.02	0.58	0.60
2086	17.82	13.89	-3.93	----	-0.02	0.58	0.60
2087	17.86	13.89	-3.97	----	-0.02	0.58	0.60
2088	17.90	13.89	-4.01	----	-0.02	0.58	0.60
2089	17.95	13.90	-4.05	----	-0.02	0.58	0.60
2090	17.99	13.90	-4.09	----	-0.02	0.58	0.60

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2015 Trustees Report.
2015-2089	16.53%	14.39%	-2.15%	2037	-0.01%	0.52%	0.54%

¹ Under present law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Description of Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2018-2023, until the rate reaches 13.0 percent for 2023 and later.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2018-2023, until the rate reaches 13.0 percent for 2023 and later.