Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2022, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2021 | 253 | 253 |
| 2022 | 231 | 231 |
| 2023 | 214 | 224 |
| 2024 | 196 | 217 |
| 2025 | 178 | 209 |
| 2026 | 159 | 200 |
| 2027 | 141 | 192 |
| 2028 | 122 | 183 |
| 2029 | 104 | 174 |
| 2030 | 85 | 165 |
| 2031 | 66 | 156 |
| 2032 | 46 | 148 |
| 2033 | 27 | 140 |
| 2034 | 7 | 132 |
| 2035 | -13 | 126 |
| 2036 | -33 | 120 |
| 2037 | -54 | 114 |
| 2038 | -76 | 108 |
| 2039 | -97 | 102 |
| 2040 | -119 | 96 |
| 2041 | -142 | 90 |
| 2042 | -165 | 84 |
| 2043 | -188 | 77 |
| 2044 | -211 | 71 |
| 2045 | -235 | 65 |
| 2046 | -258 | 58 |
| 2047 | -282 | 52 |
| 2048 | -306 | 46 |
| 2049 | -330 | 39 |
| 2050 | -354 | 32 |
| 2051 | -378 | 26 |
| 2052 | -403 | 19 |
| 2053 | -427 | 12 |
| 2054 | -452 | 4 |
| 2055 | -477 | -3 |
| 2056 | -502 | -11 |
| 2057 | -527 | -18 |
| 2058 | -552 | -26 |
| 2059 | -578 | -35 |
| 2060 | -604 | -43 |
| 2061 | -630 | -52 |
| 2062 | -657 | -61 |
| 2063 | -684 | -71 |
| 2064 | -712 | -80 |
| 2065 | -740 | -90 |
| 2066 | -768 | -100 |
| 2067 | -796 | -111 |
| 2068 | -825 | -122 |
| 2069 | -855 | -133 |
| 2070 | -884 | -144 |
| 2071 | -914 | -156 |
| 2072 | -945 | -168 |
| 2073 | -976 | -180 |
| 2074 | -1007 | -192 |
| 2075 | -1039 | -205 |
| 2076 | -1071 | -218 |
| 2077 | -1105 | -232 |
| 2078 | -1139 | -246 |
| 2079 | -1175 | -260 |
| 2080 | -1211 | -274 |
| 2081 | -1248 | -289 |
| 2082 | -1286 | -303 |
| 2083 | -1324 | -318 |
| 2084 | -1363 | -333 |
| 2085 | -1403 | -347 |
| 2086 | -1443 | -362 |
| 2087 | -1483 | -377 |
| 2088 | -1524 | -391 |
| 2089 | -1564 | -405 |
| 2090 | -1604 | -419 |
| 2091 | -1643 | -432 |
| 2092 | -1681 | -445 |
| 2093 | -1718 | -458 |
| 2094 | -1754 | -470 |
| 2095 | -1789 | -482 |
| 2096 | -1825 | -494 |
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