Proposed Provision: B7.7. Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2026 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2026, based on changes in the SSA average wage index.
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 | 159 |
2027 | 141 | 141 |
2028 | 122 | 123 |
2029 | 104 | 104 |
2030 | 85 | 86 |
2031 | 66 | 67 |
2032 | 46 | 49 |
2033 | 27 | 30 |
2034 | 7 | 11 |
2035 | -13 | -7 |
2036 | -33 | -27 |
2037 | -54 | -46 |
2038 | -76 | -65 |
2039 | -97 | -85 |
2040 | -119 | -105 |
2041 | -142 | -125 |
2042 | -165 | -146 |
2043 | -188 | -166 |
2044 | -211 | -187 |
2045 | -235 | -208 |
2046 | -258 | -228 |
2047 | -282 | -249 |
2048 | -306 | -270 |
2049 | -330 | -291 |
2050 | -354 | -312 |
2051 | -378 | -334 |
2052 | -403 | -355 |
2053 | -427 | -377 |
2054 | -452 | -398 |
2055 | -477 | -420 |
2056 | -502 | -442 |
2057 | -527 | -464 |
2058 | -552 | -486 |
2059 | -578 | -509 |
2060 | -604 | -531 |
2061 | -630 | -555 |
2062 | -657 | -578 |
2063 | -684 | -602 |
2064 | -712 | -626 |
2065 | -740 | -651 |
2066 | -768 | -676 |
2067 | -796 | -701 |
2068 | -825 | -727 |
2069 | -855 | -753 |
2070 | -884 | -779 |
2071 | -914 | -805 |
2072 | -945 | -833 |
2073 | -976 | -860 |
2074 | -1007 | -888 |
2075 | -1039 | -916 |
2076 | -1071 | -945 |
2077 | -1105 | -975 |
2078 | -1139 | -1006 |
2079 | -1175 | -1037 |
2080 | -1211 | -1070 |
2081 | -1248 | -1103 |
2082 | -1286 | -1136 |
2083 | -1324 | -1170 |
2084 | -1363 | -1205 |
2085 | -1403 | -1240 |
2086 | -1443 | -1276 |
2087 | -1483 | -1311 |
2088 | -1524 | -1347 |
2089 | -1564 | -1383 |
2090 | -1604 | -1418 |
2091 | -1643 | -1452 |
2092 | -1681 | -1486 |
2093 | -1718 | -1518 |
2094 | -1754 | -1550 |
2095 | -1789 | -1581 |
2096 | -1825 | -1613 |
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