Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2022230230
2023211211
2024194194
2025177177
2026160160
2027143143
2028126126
2029109109
20309191
20317474
20325757
20333939
20342121
203533
2036-16-16
2037-35-35
2038-54-54
2039-74-74
2040-95-95
2041-116-116
2042-137-137
2043-158-158
2044-180-180
2045-202-202
2046-224-224
2047-246-247
2048-268-270
2049-291-294
2050-313-318
2051-336-342
2052-359-367
2053-383-392
2054-406-418
2055-430-447
2056-453-476
2057-477-506
2058-501-535
2059-525-565
2060-550-596
2061-575-627
2062-601-658
2063-627-690
2064-654-723
2065-681-756
2066-708-789
2067-736-823
2068-764-857
2069-792-891
2070-821-926
2071-850-962
2072-880-998
2073-910-1034
2074-940-1071
2075-971-1108
2076-1003-1146
2077-1036-1186
2078-1069-1226
2079-1104-1267
2080-1139-1310
2081-1175-1353
2082-1212-1397
2083-1249-1441
2084-1286-1486
2085-1324-1532
2086-1363-1579
2087-1402-1626
2088-1442-1673
2089-1481-1720
2090-1520-1767
2091-1558-1813
2092-1595-1859
2093-1632-1903
2094-1668-1947
2095-1703-1990
2096-1738-2033
2097-1773-2075
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