Proposed Provision: E3.12. Beginning in 2025, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $548,700 in 2025), with the threshold wage-indexed after 2025. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 273 |
| 2020 | 259 | 259 |
| 2021 | 245 | 245 |
| 2022 | 230 | 230 |
| 2023 | 215 | 215 |
| 2024 | 199 | 199 |
| 2025 | 182 | 182 |
| 2026 | 165 | 166 |
| 2027 | 148 | 150 |
| 2028 | 130 | 133 |
| 2029 | 112 | 116 |
| 2030 | 94 | 99 |
| 2031 | 75 | 81 |
| 2032 | 56 | 63 |
| 2033 | 37 | 45 |
| 2034 | 16 | 25 |
| 2035 | -4 | 6 |
| 2036 | -26 | -15 |
| 2037 | -47 | -35 |
| 2038 | -70 | -57 |
| 2039 | -92 | -78 |
| 2040 | -115 | -100 |
| 2041 | -138 | -121 |
| 2042 | -161 | -143 |
| 2043 | -184 | -165 |
| 2044 | -207 | -187 |
| 2045 | -230 | -209 |
| 2046 | -253 | -231 |
| 2047 | -276 | -253 |
| 2048 | -300 | -275 |
| 2049 | -323 | -297 |
| 2050 | -346 | -319 |
| 2051 | -370 | -342 |
| 2052 | -393 | -364 |
| 2053 | -417 | -386 |
| 2054 | -440 | -408 |
| 2055 | -464 | -430 |
| 2056 | -487 | -453 |
| 2057 | -511 | -476 |
| 2058 | -536 | -499 |
| 2059 | -560 | -522 |
| 2060 | -585 | -546 |
| 2061 | -611 | -571 |
| 2062 | -637 | -595 |
| 2063 | -663 | -621 |
| 2064 | -690 | -646 |
| 2065 | -717 | -672 |
| 2066 | -745 | -698 |
| 2067 | -772 | -725 |
| 2068 | -801 | -752 |
| 2069 | -829 | -780 |
| 2070 | -858 | -808 |
| 2071 | -888 | -836 |
| 2072 | -918 | -865 |
| 2073 | -949 | -895 |
| 2074 | -981 | -926 |
| 2075 | -1014 | -957 |
| 2076 | -1047 | -989 |
| 2077 | -1082 | -1022 |
| 2078 | -1117 | -1056 |
| 2079 | -1153 | -1091 |
| 2080 | -1190 | -1126 |
| 2081 | -1227 | -1162 |
| 2082 | -1264 | -1197 |
| 2083 | -1300 | -1233 |
| 2084 | -1337 | -1268 |
| 2085 | -1374 | -1303 |
| 2086 | -1410 | -1338 |
| 2087 | -1446 | -1373 |
| 2088 | -1483 | -1408 |
| 2089 | -1520 | -1444 |
| 2090 | -1557 | -1480 |
| 2091 | -1595 | -1516 |
| 2092 | -1633 | -1553 |
back