Proposed Provision: E3.15. Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2018-2027). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2018-2027). Provide benefit credit for earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 275 |
| 2020 | 259 | 264 |
| 2021 | 245 | 254 |
| 2022 | 230 | 245 |
| 2023 | 215 | 237 |
| 2024 | 199 | 228 |
| 2025 | 182 | 219 |
| 2026 | 165 | 210 |
| 2027 | 148 | 201 |
| 2028 | 130 | 193 |
| 2029 | 112 | 184 |
| 2030 | 94 | 175 |
| 2031 | 75 | 166 |
| 2032 | 56 | 157 |
| 2033 | 37 | 147 |
| 2034 | 16 | 137 |
| 2035 | -4 | 127 |
| 2036 | -26 | 116 |
| 2037 | -47 | 104 |
| 2038 | -70 | 93 |
| 2039 | -92 | 82 |
| 2040 | -115 | 70 |
| 2041 | -138 | 59 |
| 2042 | -161 | 48 |
| 2043 | -184 | 37 |
| 2044 | -207 | 26 |
| 2045 | -230 | 15 |
| 2046 | -253 | 4 |
| 2047 | -276 | -7 |
| 2048 | -300 | -18 |
| 2049 | -323 | -29 |
| 2050 | -346 | -40 |
| 2051 | -370 | -51 |
| 2052 | -393 | -62 |
| 2053 | -417 | -73 |
| 2054 | -440 | -85 |
| 2055 | -464 | -96 |
| 2056 | -487 | -108 |
| 2057 | -511 | -120 |
| 2058 | -536 | -132 |
| 2059 | -560 | -145 |
| 2060 | -585 | -158 |
| 2061 | -611 | -171 |
| 2062 | -637 | -185 |
| 2063 | -663 | -199 |
| 2064 | -690 | -213 |
| 2065 | -717 | -228 |
| 2066 | -745 | -243 |
| 2067 | -772 | -258 |
| 2068 | -801 | -274 |
| 2069 | -829 | -290 |
| 2070 | -858 | -307 |
| 2071 | -888 | -324 |
| 2072 | -918 | -342 |
| 2073 | -949 | -359 |
| 2074 | -981 | -378 |
| 2075 | -1014 | -397 |
| 2076 | -1047 | -416 |
| 2077 | -1082 | -436 |
| 2078 | -1117 | -456 |
| 2079 | -1153 | -477 |
| 2080 | -1190 | -498 |
| 2081 | -1227 | -519 |
| 2082 | -1264 | -540 |
| 2083 | -1300 | -561 |
| 2084 | -1337 | -583 |
| 2085 | -1374 | -604 |
| 2086 | -1410 | -625 |
| 2087 | -1446 | -646 |
| 2088 | -1483 | -668 |
| 2089 | -1520 | -690 |
| 2090 | -1557 | -712 |
| 2091 | -1595 | -735 |
| 2092 | -1633 | -758 |
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