Proposed Provision: E2.2. Eliminate the taxable maximum in years 2022 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2021 | 253 | 253 |
| 2022 | 231 | 231 |
| 2023 | 214 | 230 |
| 2024 | 196 | 227 |
| 2025 | 178 | 224 |
| 2026 | 159 | 219 |
| 2027 | 141 | 213 |
| 2028 | 122 | 207 |
| 2029 | 104 | 200 |
| 2030 | 85 | 193 |
| 2031 | 66 | 186 |
| 2032 | 46 | 178 |
| 2033 | 27 | 171 |
| 2034 | 7 | 164 |
| 2035 | -13 | 157 |
| 2036 | -33 | 151 |
| 2037 | -54 | 145 |
| 2038 | -76 | 138 |
| 2039 | -97 | 131 |
| 2040 | -119 | 124 |
| 2041 | -142 | 116 |
| 2042 | -165 | 109 |
| 2043 | -188 | 101 |
| 2044 | -211 | 93 |
| 2045 | -235 | 85 |
| 2046 | -258 | 77 |
| 2047 | -282 | 69 |
| 2048 | -306 | 60 |
| 2049 | -330 | 51 |
| 2050 | -354 | 42 |
| 2051 | -378 | 33 |
| 2052 | -403 | 23 |
| 2053 | -427 | 13 |
| 2054 | -452 | 3 |
| 2055 | -477 | -7 |
| 2056 | -502 | -18 |
| 2057 | -527 | -29 |
| 2058 | -552 | -40 |
| 2059 | -578 | -52 |
| 2060 | -604 | -64 |
| 2061 | -630 | -77 |
| 2062 | -657 | -90 |
| 2063 | -684 | -103 |
| 2064 | -712 | -116 |
| 2065 | -740 | -130 |
| 2066 | -768 | -145 |
| 2067 | -796 | -160 |
| 2068 | -825 | -175 |
| 2069 | -855 | -190 |
| 2070 | -884 | -206 |
| 2071 | -914 | -222 |
| 2072 | -945 | -238 |
| 2073 | -976 | -255 |
| 2074 | -1007 | -273 |
| 2075 | -1039 | -290 |
| 2076 | -1071 | -308 |
| 2077 | -1105 | -327 |
| 2078 | -1139 | -346 |
| 2079 | -1175 | -365 |
| 2080 | -1211 | -385 |
| 2081 | -1248 | -405 |
| 2082 | -1286 | -425 |
| 2083 | -1324 | -445 |
| 2084 | -1363 | -466 |
| 2085 | -1403 | -486 |
| 2086 | -1443 | -507 |
| 2087 | -1483 | -528 |
| 2088 | -1524 | -549 |
| 2089 | -1564 | -569 |
| 2090 | -1604 | -589 |
| 2091 | -1643 | -609 |
| 2092 | -1681 | -628 |
| 2093 | -1718 | -647 |
| 2094 | -1754 | -666 |
| 2095 | -1789 | -684 |
| 2096 | -1825 | -702 |
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