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
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122123
2029104104
20308586
20316667
20324649
20332730
2034711
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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