Detailed Single Year Tables
Description of Proposed Provision:
E1.4: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2027-2046, until the rate reaches 14.4 percent in 2046 and later.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.94 | -1.69 | 196 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.86 | 12.96 | -1.90 | 178 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.10 | 13.08 | -2.03 | 159 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.19 | -2.17 | 141 | 0.00 | 0.09 | 0.09 | ||
| 2028 | 15.62 | 13.32 | -2.30 | 123 | -0.00 | 0.19 | 0.19 | ||
| 2029 | 15.87 | 13.45 | -2.42 | 105 | -0.00 | 0.28 | 0.28 | ||
| 2030 | 16.11 | 13.57 | -2.54 | 88 | -0.00 | 0.38 | 0.38 | ||
| 2031 | 16.28 | 13.68 | -2.61 | 71 | -0.00 | 0.47 | 0.47 | ||
| 2032 | 16.43 | 13.79 | -2.65 | 55 | -0.00 | 0.57 | 0.57 | ||
| 2033 | 16.56 | 13.89 | -2.66 | 39 | -0.00 | 0.66 | 0.67 | ||
| 2034 | 16.65 | 13.99 | -2.66 | 23 | -0.00 | 0.76 | 0.76 | ||
| 2035 | 16.73 | 14.10 | -2.64 | 7 | -0.00 | 0.85 | 0.86 | ||
| 2036 | 16.80 | 14.20 | -2.60 | ---- | -0.01 | 0.95 | 0.95 | ||
| 2037 | 16.86 | 14.30 | -2.56 | ---- | -0.01 | 1.04 | 1.05 | ||
| 2038 | 16.90 | 14.40 | -2.51 | ---- | -0.01 | 1.14 | 1.15 | ||
| 2039 | 16.94 | 14.50 | -2.44 | ---- | -0.01 | 1.23 | 1.24 | ||
| 2040 | 16.96 | 14.60 | -2.37 | ---- | -0.01 | 1.33 | 1.34 | ||
| 2041 | 17.00 | 14.69 | -2.31 | ---- | -0.02 | 1.42 | 1.44 | ||
| 2042 | 17.02 | 14.79 | -2.23 | ---- | -0.02 | 1.51 | 1.53 | ||
| 2043 | 17.02 | 14.89 | -2.13 | ---- | -0.02 | 1.61 | 1.63 | ||
| 2044 | 17.02 | 14.98 | -2.04 | ---- | -0.03 | 1.70 | 1.73 | ||
| 2045 | 17.02 | 15.08 | -1.94 | ---- | -0.03 | 1.80 | 1.83 | ||
| 2046 | 17.02 | 15.17 | -1.85 | ---- | -0.03 | 1.89 | 1.92 | ||
| 2047 | 17.04 | 15.18 | -1.86 | ---- | -0.04 | 1.90 | 1.93 | ||
| 2048 | 17.06 | 15.18 | -1.87 | ---- | -0.04 | 1.90 | 1.94 | ||
| 2049 | 17.07 | 15.18 | -1.89 | ---- | -0.05 | 1.90 | 1.94 | ||
| 2050 | 17.09 | 15.19 | -1.90 | ---- | -0.05 | 1.90 | 1.95 | ||
| 2051 | 17.10 | 15.19 | -1.92 | ---- | -0.06 | 1.90 | 1.95 | ||
| 2052 | 17.13 | 15.19 | -1.94 | ---- | -0.06 | 1.90 | 1.96 | ||
| 2053 | 17.15 | 15.19 | -1.96 | ---- | -0.07 | 1.90 | 1.96 | ||
| 2054 | 17.18 | 15.20 | -1.98 | ---- | -0.07 | 1.90 | 1.97 | ||
| 2055 | 17.22 | 15.20 | -2.02 | ---- | -0.07 | 1.90 | 1.97 | ||
| 2056 | 17.26 | 15.21 | -2.05 | ---- | -0.08 | 1.90 | 1.98 | ||
| 2057 | 17.30 | 15.21 | -2.09 | ---- | -0.08 | 1.90 | 1.98 | ||
| 2058 | 17.35 | 15.22 | -2.13 | ---- | -0.09 | 1.90 | 1.98 | ||
| 2059 | 17.40 | 15.22 | -2.18 | ---- | -0.09 | 1.90 | 1.99 | ||
| 2060 | 17.45 | 15.22 | -2.23 | ---- | -0.10 | 1.90 | 1.99 | ||
| 2061 | 17.50 | 15.23 | -2.27 | ---- | -0.10 | 1.90 | 2.00 | ||
| 2062 | 17.55 | 15.23 | -2.32 | ---- | -0.10 | 1.90 | 2.00 | ||
| 2063 | 17.60 | 15.24 | -2.36 | ---- | -0.10 | 1.90 | 2.00 | ||
| 2064 | 17.64 | 15.24 | -2.40 | ---- | -0.11 | 1.90 | 2.00 | ||
| 2065 | 17.69 | 15.25 | -2.45 | ---- | -0.11 | 1.90 | 2.01 | ||
| 2066 | 17.74 | 15.25 | -2.49 | ---- | -0.11 | 1.90 | 2.01 | ||
| 2067 | 17.79 | 15.26 | -2.53 | ---- | -0.11 | 1.90 | 2.01 | ||
| 2068 | 17.84 | 15.26 | -2.58 | ---- | -0.12 | 1.90 | 2.01 | ||
| 2069 | 17.89 | 15.26 | -2.63 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2070 | 17.95 | 15.27 | -2.68 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2071 | 18.00 | 15.27 | -2.73 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2072 | 18.05 | 15.28 | -2.78 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2073 | 18.10 | 15.28 | -2.82 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2074 | 18.15 | 15.29 | -2.86 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2075 | 18.19 | 15.29 | -2.90 | ---- | -0.12 | 1.90 | 2.02 | ||
| 2076 | 18.22 | 15.29 | -2.93 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2077 | 18.25 | 15.30 | -2.95 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2078 | 18.25 | 15.30 | -2.95 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2079 | 18.25 | 15.30 | -2.95 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2080 | 18.23 | 15.30 | -2.93 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2081 | 18.20 | 15.30 | -2.91 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2082 | 18.17 | 15.30 | -2.87 | ---- | -0.12 | 1.90 | 2.03 | ||
| 2083 | 18.13 | 15.30 | -2.83 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2084 | 18.08 | 15.29 | -2.78 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2085 | 18.02 | 15.29 | -2.73 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2086 | 17.96 | 15.29 | -2.67 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2087 | 17.89 | 15.28 | -2.61 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2088 | 17.82 | 15.28 | -2.54 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2089 | 17.75 | 15.28 | -2.48 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2090 | 17.70 | 15.27 | -2.42 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2091 | 17.65 | 15.27 | -2.38 | ---- | -0.12 | 1.91 | 2.03 | ||
| 2092 | 17.62 | 15.27 | -2.35 | ---- | -0.11 | 1.91 | 2.03 | ||
| 2093 | 17.60 | 15.27 | -2.33 | ---- | -0.11 | 1.91 | 2.02 | ||
| 2094 | 17.59 | 15.27 | -2.32 | ---- | -0.11 | 1.91 | 2.02 | ||
| 2095 | 17.59 | 15.27 | -2.32 | ---- | -0.11 | 1.91 | 2.02 | ||
| 2096 | 17.59 | 15.27 | -2.32 | ---- | -0.11 | 1.91 | 2.02 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 17.25% | 15.22% | -2.03% | 2035 | -0.06% | 1.45% | 1.51% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.