Detailed Single Year Tables
Description of Proposed Provision:
E1.9: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2026-2049, until the rate reaches 14.8 percent in 2049 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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.31 | 13.04 | -1.27 | 211 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.45 | 12.95 | -1.49 | 194 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.66 | 12.97 | -1.69 | 177 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 14.88 | 13.17 | -1.71 | 160 | 0.00 | 0.09 | 0.09 | ||
| 2027 | 15.10 | 13.29 | -1.82 | 143 | -0.00 | 0.19 | 0.19 | ||
| 2028 | 15.33 | 13.42 | -1.90 | 127 | -0.00 | 0.28 | 0.28 | ||
| 2029 | 15.53 | 13.55 | -1.98 | 112 | -0.00 | 0.38 | 0.38 | ||
| 2030 | 15.72 | 13.67 | -2.05 | 97 | -0.00 | 0.47 | 0.47 | ||
| 2031 | 15.90 | 13.80 | -2.11 | 83 | -0.00 | 0.57 | 0.57 | ||
| 2032 | 16.07 | 13.91 | -2.16 | 69 | -0.00 | 0.66 | 0.67 | ||
| 2033 | 16.20 | 14.01 | -2.19 | 55 | -0.00 | 0.76 | 0.76 | ||
| 2034 | 16.32 | 14.12 | -2.20 | 42 | -0.00 | 0.85 | 0.86 | ||
| 2035 | 16.41 | 14.22 | -2.19 | 29 | -0.01 | 0.95 | 0.95 | ||
| 2036 | 16.49 | 14.32 | -2.17 | 16 | -0.01 | 1.04 | 1.05 | ||
| 2037 | 16.57 | 14.43 | -2.14 | 3 | -0.01 | 1.14 | 1.15 | ||
| 2038 | 16.63 | 14.53 | -2.10 | ---- | -0.01 | 1.23 | 1.24 | ||
| 2039 | 16.67 | 14.62 | -2.05 | ---- | -0.01 | 1.33 | 1.34 | ||
| 2040 | 16.70 | 14.72 | -1.98 | ---- | -0.02 | 1.42 | 1.44 | ||
| 2041 | 16.72 | 14.82 | -1.90 | ---- | -0.02 | 1.52 | 1.54 | ||
| 2042 | 16.74 | 14.92 | -1.83 | ---- | -0.02 | 1.61 | 1.63 | ||
| 2043 | 16.76 | 15.01 | -1.75 | ---- | -0.02 | 1.71 | 1.73 | ||
| 2044 | 16.78 | 15.11 | -1.67 | ---- | -0.03 | 1.80 | 1.83 | ||
| 2045 | 16.79 | 15.20 | -1.59 | ---- | -0.03 | 1.90 | 1.93 | ||
| 2046 | 16.80 | 15.30 | -1.50 | ---- | -0.04 | 1.99 | 2.03 | ||
| 2047 | 16.82 | 15.40 | -1.43 | ---- | -0.04 | 2.08 | 2.12 | ||
| 2048 | 16.85 | 15.49 | -1.35 | ---- | -0.04 | 2.18 | 2.22 | ||
| 2049 | 16.87 | 15.59 | -1.28 | ---- | -0.05 | 2.27 | 2.32 | ||
| 2050 | 16.90 | 15.60 | -1.30 | ---- | -0.05 | 2.28 | 2.33 | ||
| 2051 | 16.92 | 15.60 | -1.32 | ---- | -0.06 | 2.28 | 2.33 | ||
| 2052 | 16.95 | 15.60 | -1.35 | ---- | -0.06 | 2.28 | 2.34 | ||
| 2053 | 16.99 | 15.61 | -1.38 | ---- | -0.07 | 2.28 | 2.34 | ||
| 2054 | 17.03 | 15.61 | -1.42 | ---- | -0.07 | 2.28 | 2.35 | ||
| 2055 | 17.07 | 15.61 | -1.46 | ---- | -0.08 | 2.28 | 2.35 | ||
| 2056 | 17.12 | 15.62 | -1.50 | ---- | -0.08 | 2.28 | 2.36 | ||
| 2057 | 17.18 | 15.62 | -1.55 | ---- | -0.09 | 2.28 | 2.36 | ||
| 2058 | 17.23 | 15.63 | -1.61 | ---- | -0.09 | 2.28 | 2.37 | ||
| 2059 | 17.29 | 15.63 | -1.66 | ---- | -0.10 | 2.28 | 2.37 | ||
| 2060 | 17.35 | 15.64 | -1.71 | ---- | -0.10 | 2.28 | 2.38 | ||
| 2061 | 17.41 | 15.64 | -1.77 | ---- | -0.10 | 2.28 | 2.38 | ||
| 2062 | 17.46 | 15.65 | -1.82 | ---- | -0.11 | 2.28 | 2.38 | ||
| 2063 | 17.51 | 15.65 | -1.86 | ---- | -0.11 | 2.28 | 2.39 | ||
| 2064 | 17.56 | 15.65 | -1.91 | ---- | -0.11 | 2.28 | 2.39 | ||
| 2065 | 17.61 | 15.66 | -1.95 | ---- | -0.12 | 2.28 | 2.39 | ||
| 2066 | 17.66 | 15.66 | -2.00 | ---- | -0.12 | 2.28 | 2.40 | ||
| 2067 | 17.71 | 15.67 | -2.04 | ---- | -0.12 | 2.28 | 2.40 | ||
| 2068 | 17.76 | 15.67 | -2.09 | ---- | -0.13 | 2.28 | 2.40 | ||
| 2069 | 17.82 | 15.67 | -2.14 | ---- | -0.13 | 2.28 | 2.40 | ||
| 2070 | 17.87 | 15.68 | -2.19 | ---- | -0.13 | 2.28 | 2.41 | ||
| 2071 | 17.92 | 15.68 | -2.24 | ---- | -0.13 | 2.28 | 2.41 | ||
| 2072 | 17.98 | 15.69 | -2.29 | ---- | -0.13 | 2.28 | 2.41 | ||
| 2073 | 18.03 | 15.69 | -2.34 | ---- | -0.14 | 2.28 | 2.41 | ||
| 2074 | 18.07 | 15.69 | -2.38 | ---- | -0.14 | 2.28 | 2.41 | ||
| 2075 | 18.11 | 15.70 | -2.42 | ---- | -0.14 | 2.28 | 2.41 | ||
| 2076 | 18.15 | 15.70 | -2.45 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2077 | 18.17 | 15.70 | -2.47 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2078 | 18.18 | 15.70 | -2.47 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2079 | 18.17 | 15.70 | -2.47 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2080 | 18.16 | 15.70 | -2.45 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2081 | 18.13 | 15.70 | -2.43 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2082 | 18.10 | 15.70 | -2.40 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2083 | 18.06 | 15.70 | -2.36 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2084 | 18.02 | 15.70 | -2.32 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2085 | 17.96 | 15.69 | -2.27 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2086 | 17.91 | 15.69 | -2.21 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2087 | 17.84 | 15.69 | -2.15 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2088 | 17.77 | 15.68 | -2.09 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2089 | 17.71 | 15.68 | -2.03 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2090 | 17.65 | 15.67 | -1.98 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2091 | 17.60 | 15.67 | -1.93 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2092 | 17.56 | 15.67 | -1.89 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2093 | 17.53 | 15.67 | -1.87 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2094 | 17.51 | 15.67 | -1.85 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2095 | 17.50 | 15.67 | -1.84 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2096 | 17.50 | 15.67 | -1.84 | ---- | -0.14 | 2.28 | 2.42 | ||
| 2097 | 17.51 | 15.67 | -1.84 | ---- | -0.14 | 2.28 | 2.42 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 17.13% | 15.51% | -1.62% | 2037 | -0.07% | 1.73% | 1.80% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2022 Trustees Report.