Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122122
2029104104
20308585
20316666
20324646
20332727
203477
2035-13-13
2036-33-33
2037-54-54
2038-76-76
2039-97-97
2040-119-119
2041-142-142
2042-165-165
2043-188-188
2044-211-211
2045-235-235
2046-258-259
2047-282-283
2048-306-308
2049-330-333
2050-354-359
2051-378-385
2052-403-412
2053-427-439
2054-452-466
2055-477-497
2056-502-527
2057-527-557
2058-552-588
2059-578-619
2060-604-651
2061-630-683
2062-657-715
2063-684-748
2064-712-781
2065-740-815
2066-768-849
2067-796-883
2068-825-918
2069-855-953
2070-884-989
2071-914-1025
2072-945-1061
2073-976-1098
2074-1007-1136
2075-1039-1174
2076-1071-1213
2077-1105-1253
2078-1139-1294
2079-1175-1336
2080-1211-1379
2081-1248-1423
2082-1286-1468
2083-1324-1513
2084-1363-1560
2085-1403-1607
2086-1443-1654
2087-1483-1702
2088-1524-1751
2089-1564-1799
2090-1604-1847
2091-1643-1893
2092-1681-1939
2093-1718-1983
2094-1754-2026
2095-1789-2069
2096-1825-2112
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