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 2027 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 2027, based on changes in the SSA average wage index.
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 | 92 |
| 2031 | 74 | 75 |
| 2032 | 57 | 58 |
| 2033 | 39 | 42 |
| 2034 | 21 | 25 |
| 2035 | 3 | 7 |
| 2036 | -16 | -10 |
| 2037 | -35 | -28 |
| 2038 | -54 | -46 |
| 2039 | -74 | -64 |
| 2040 | -95 | -83 |
| 2041 | -116 | -102 |
| 2042 | -137 | -120 |
| 2043 | -158 | -139 |
| 2044 | -180 | -158 |
| 2045 | -202 | -178 |
| 2046 | -224 | -197 |
| 2047 | -246 | -216 |
| 2048 | -268 | -236 |
| 2049 | -291 | -255 |
| 2050 | -313 | -275 |
| 2051 | -336 | -295 |
| 2052 | -359 | -315 |
| 2053 | -383 | -335 |
| 2054 | -406 | -355 |
| 2055 | -430 | -375 |
| 2056 | -453 | -396 |
| 2057 | -477 | -416 |
| 2058 | -501 | -437 |
| 2059 | -525 | -458 |
| 2060 | -550 | -480 |
| 2061 | -575 | -502 |
| 2062 | -601 | -524 |
| 2063 | -627 | -547 |
| 2064 | -654 | -571 |
| 2065 | -681 | -594 |
| 2066 | -708 | -618 |
| 2067 | -736 | -643 |
| 2068 | -764 | -667 |
| 2069 | -792 | -692 |
| 2070 | -821 | -717 |
| 2071 | -850 | -743 |
| 2072 | -880 | -769 |
| 2073 | -910 | -796 |
| 2074 | -940 | -823 |
| 2075 | -971 | -850 |
| 2076 | -1003 | -878 |
| 2077 | -1036 | -907 |
| 2078 | -1069 | -937 |
| 2079 | -1104 | -967 |
| 2080 | -1139 | -999 |
| 2081 | -1175 | -1030 |
| 2082 | -1212 | -1063 |
| 2083 | -1249 | -1095 |
| 2084 | -1286 | -1129 |
| 2085 | -1324 | -1162 |
| 2086 | -1363 | -1197 |
| 2087 | -1402 | -1231 |
| 2088 | -1442 | -1266 |
| 2089 | -1481 | -1300 |
| 2090 | -1520 | -1334 |
| 2091 | -1558 | -1367 |
| 2092 | -1595 | -1400 |
| 2093 | -1632 | -1432 |
| 2094 | -1668 | -1464 |
| 2095 | -1703 | -1495 |
| 2096 | -1738 | -1525 |
| 2097 | -1773 | -1555 |
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