Proposed Provision: E1.9. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2025-2048, until the rate reaches 14.8 percent in 2048 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 196 |
2025 | 178 | 178 |
2026 | 159 | 160 |
2027 | 141 | 143 |
2028 | 122 | 126 |
2029 | 104 | 109 |
2030 | 85 | 93 |
2031 | 66 | 77 |
2032 | 46 | 62 |
2033 | 27 | 47 |
2034 | 7 | 32 |
2035 | -13 | 17 |
2036 | -33 | 3 |
2037 | -54 | -11 |
2038 | -76 | -25 |
2039 | -97 | -38 |
2040 | -119 | -51 |
2041 | -142 | -64 |
2042 | -165 | -77 |
2043 | -188 | -90 |
2044 | -211 | -101 |
2045 | -235 | -113 |
2046 | -258 | -124 |
2047 | -282 | -134 |
2048 | -306 | -144 |
2049 | -330 | -154 |
2050 | -354 | -164 |
2051 | -378 | -173 |
2052 | -403 | -183 |
2053 | -427 | -193 |
2054 | -452 | -203 |
2055 | -477 | -214 |
2056 | -502 | -224 |
2057 | -527 | -234 |
2058 | -552 | -245 |
2059 | -578 | -256 |
2060 | -604 | -267 |
2061 | -630 | -279 |
2062 | -657 | -291 |
2063 | -684 | -303 |
2064 | -712 | -315 |
2065 | -740 | -328 |
2066 | -768 | -341 |
2067 | -796 | -354 |
2068 | -825 | -368 |
2069 | -855 | -382 |
2070 | -884 | -396 |
2071 | -914 | -410 |
2072 | -945 | -425 |
2073 | -976 | -440 |
2074 | -1007 | -456 |
2075 | -1039 | -471 |
2076 | -1071 | -488 |
2077 | -1105 | -505 |
2078 | -1139 | -522 |
2079 | -1175 | -540 |
2080 | -1211 | -558 |
2081 | -1248 | -576 |
2082 | -1286 | -595 |
2083 | -1324 | -614 |
2084 | -1363 | -633 |
2085 | -1403 | -652 |
2086 | -1443 | -671 |
2087 | -1483 | -690 |
2088 | -1524 | -710 |
2089 | -1564 | -729 |
2090 | -1604 | -747 |
2091 | -1643 | -765 |
2092 | -1681 | -782 |
2093 | -1718 | -799 |
2094 | -1754 | -815 |
2095 | -1789 | -831 |
2096 | -1825 | -847 |
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