Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2028-2047, until the rate reaches 14.4 percent in 2047 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2022 | 230 | 230 |
| 2023 | 211 | 211 |
| 2024 | 194 | 194 |
| 2025 | 177 | 177 |
| 2026 | 160 | 160 |
| 2027 | 143 | 143 |
| 2028 | 126 | 126 |
| 2029 | 109 | 109 |
| 2030 | 91 | 93 |
| 2031 | 74 | 78 |
| 2032 | 57 | 63 |
| 2033 | 39 | 48 |
| 2034 | 21 | 33 |
| 2035 | 3 | 19 |
| 2036 | -16 | 5 |
| 2037 | -35 | -9 |
| 2038 | -54 | -23 |
| 2039 | -74 | -37 |
| 2040 | -95 | -50 |
| 2041 | -116 | -63 |
| 2042 | -137 | -76 |
| 2043 | -158 | -88 |
| 2044 | -180 | -100 |
| 2045 | -202 | -112 |
| 2046 | -224 | -123 |
| 2047 | -246 | -134 |
| 2048 | -268 | -145 |
| 2049 | -291 | -155 |
| 2050 | -313 | -166 |
| 2051 | -336 | -176 |
| 2052 | -359 | -187 |
| 2053 | -383 | -198 |
| 2054 | -406 | -210 |
| 2055 | -430 | -221 |
| 2056 | -453 | -232 |
| 2057 | -477 | -244 |
| 2058 | -501 | -256 |
| 2059 | -525 | -268 |
| 2060 | -550 | -281 |
| 2061 | -575 | -294 |
| 2062 | -601 | -308 |
| 2063 | -627 | -321 |
| 2064 | -654 | -335 |
| 2065 | -681 | -350 |
| 2066 | -708 | -365 |
| 2067 | -736 | -380 |
| 2068 | -764 | -395 |
| 2069 | -792 | -411 |
| 2070 | -821 | -427 |
| 2071 | -850 | -443 |
| 2072 | -880 | -460 |
| 2073 | -910 | -477 |
| 2074 | -940 | -494 |
| 2075 | -971 | -512 |
| 2076 | -1003 | -530 |
| 2077 | -1036 | -549 |
| 2078 | -1069 | -568 |
| 2079 | -1104 | -588 |
| 2080 | -1139 | -608 |
| 2081 | -1175 | -629 |
| 2082 | -1212 | -650 |
| 2083 | -1249 | -671 |
| 2084 | -1286 | -692 |
| 2085 | -1324 | -714 |
| 2086 | -1363 | -735 |
| 2087 | -1402 | -757 |
| 2088 | -1442 | -779 |
| 2089 | -1481 | -801 |
| 2090 | -1520 | -822 |
| 2091 | -1558 | -842 |
| 2092 | -1595 | -863 |
| 2093 | -1632 | -882 |
| 2094 | -1668 | -901 |
| 2095 | -1703 | -920 |
| 2096 | -1738 | -939 |
| 2097 | -1773 | -957 |
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