Proposed Provision: E3.14. Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2025. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2025, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

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

Year Current Law Provision
2024188188
2025171171
2026152160
2027134150
2028117141
2029101132
203084124
203168116
203253109
203337102
20342295
2035788
2036-981
2037-2674
2038-4367
2039-6059
2040-7851
2041-9643
2042-11535
2043-13526
2044-15417
2045-1748
2046-194-1
2047-215-10
2048-235-19
2049-256-29
2050-277-38
2051-299-48
2052-320-58
2053-342-68
2054-364-79
2055-386-90
2056-409-101
2057-431-113
2058-455-124
2059-478-137
2060-502-150
2061-527-163
2062-553-176
2063-579-191
2064-605-205
2065-632-220
2066-660-236
2067-688-252
2068-716-268
2069-745-285
2070-774-302
2071-803-319
2072-834-337
2073-864-356
2074-895-375
2075-927-394
2076-960-414
2077-993-434
2078-1027-455
2079-1062-477
2080-1098-499
2081-1134-521
2082-1172-544
2083-1209-567
2084-1248-590
2085-1287-614
2086-1327-638
2087-1368-662
2088-1409-687
2089-1450-711
2090-1491-736
2091-1532-760
2092-1573-784
2093-1612-808
2094-1651-831
2095-1689-854
2096-1727-877
2097-1764-899
2098-1801-922
2099-1838-944
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