Detailed Single Year Tables
Description of Proposed Provision:
E1.1: Increase the payroll tax rate (currently 12.4 percent) to 16.0 percent in 2025 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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 16.16 | 1.16 | 171 | 0.00 | 3.27 | 3.27 | ||
| 2026 | 15.20 | 16.47 | 1.27 | 173 | -0.00 | 3.40 | 3.41 | ||
| 2027 | 15.36 | 16.51 | 1.16 | 176 | -0.01 | 3.40 | 3.41 | ||
| 2028 | 15.41 | 16.54 | 1.13 | 180 | -0.01 | 3.40 | 3.41 | ||
| 2029 | 15.46 | 16.57 | 1.11 | 183 | -0.01 | 3.41 | 3.42 | ||
| 2030 | 15.51 | 16.58 | 1.07 | 187 | -0.02 | 3.40 | 3.42 | ||
| 2031 | 15.55 | 16.61 | 1.05 | 190 | -0.02 | 3.40 | 3.42 | ||
| 2032 | 15.58 | 16.62 | 1.05 | 194 | -0.03 | 3.40 | 3.43 | ||
| 2033 | 15.63 | 16.67 | 1.04 | 199 | -0.03 | 3.40 | 3.44 | ||
| 2034 | 15.73 | 16.68 | 0.95 | 203 | -0.04 | 3.41 | 3.45 | ||
| 2035 | 15.83 | 16.69 | 0.86 | 209 | -0.05 | 3.41 | 3.46 | ||
| 2036 | 15.93 | 16.70 | 0.77 | 214 | -0.06 | 3.40 | 3.47 | ||
| 2037 | 16.02 | 16.71 | 0.69 | 219 | -0.07 | 3.40 | 3.47 | ||
| 2038 | 16.10 | 16.72 | 0.62 | 223 | -0.08 | 3.40 | 3.48 | ||
| 2039 | 16.16 | 16.72 | 0.56 | 228 | -0.09 | 3.40 | 3.49 | ||
| 2040 | 16.22 | 16.73 | 0.50 | 232 | -0.10 | 3.40 | 3.50 | ||
| 2041 | 16.28 | 16.73 | 0.45 | 236 | -0.10 | 3.40 | 3.51 | ||
| 2042 | 16.32 | 16.74 | 0.41 | 240 | -0.11 | 3.40 | 3.51 | ||
| 2043 | 16.36 | 16.74 | 0.38 | 245 | -0.12 | 3.40 | 3.52 | ||
| 2044 | 16.39 | 16.74 | 0.35 | 249 | -0.13 | 3.40 | 3.53 | ||
| 2045 | 16.42 | 16.75 | 0.33 | 252 | -0.13 | 3.40 | 3.54 | ||
| 2046 | 16.45 | 16.75 | 0.30 | 256 | -0.14 | 3.40 | 3.54 | ||
| 2047 | 16.48 | 16.75 | 0.28 | 260 | -0.15 | 3.40 | 3.55 | ||
| 2048 | 16.51 | 16.76 | 0.25 | 263 | -0.15 | 3.40 | 3.55 | ||
| 2049 | 16.55 | 16.76 | 0.21 | 267 | -0.16 | 3.40 | 3.56 | ||
| 2050 | 16.59 | 16.76 | 0.17 | 269 | -0.17 | 3.40 | 3.57 | ||
| 2051 | 16.64 | 16.77 | 0.13 | 272 | -0.17 | 3.40 | 3.57 | ||
| 2052 | 16.69 | 16.77 | 0.08 | 274 | -0.18 | 3.40 | 3.58 | ||
| 2053 | 16.75 | 16.78 | 0.03 | 276 | -0.18 | 3.40 | 3.58 | ||
| 2054 | 16.81 | 16.78 | -0.03 | 278 | -0.19 | 3.40 | 3.59 | ||
| 2055 | 16.89 | 16.79 | -0.10 | 279 | -0.19 | 3.40 | 3.59 | ||
| 2056 | 16.96 | 16.80 | -0.17 | 280 | -0.19 | 3.40 | 3.59 | ||
| 2057 | 17.05 | 16.80 | -0.24 | 280 | -0.20 | 3.40 | 3.60 | ||
| 2058 | 17.13 | 16.81 | -0.32 | 279 | -0.20 | 3.40 | 3.60 | ||
| 2059 | 17.21 | 16.82 | -0.40 | 279 | -0.20 | 3.40 | 3.60 | ||
| 2060 | 17.30 | 16.82 | -0.47 | 278 | -0.21 | 3.40 | 3.61 | ||
| 2061 | 17.37 | 16.83 | -0.54 | 276 | -0.21 | 3.40 | 3.61 | ||
| 2062 | 17.44 | 16.84 | -0.61 | 274 | -0.21 | 3.40 | 3.61 | ||
| 2063 | 17.51 | 16.84 | -0.67 | 273 | -0.21 | 3.40 | 3.61 | ||
| 2064 | 17.58 | 16.85 | -0.73 | 270 | -0.21 | 3.40 | 3.61 | ||
| 2065 | 17.64 | 16.85 | -0.79 | 268 | -0.21 | 3.40 | 3.61 | ||
| 2066 | 17.70 | 16.86 | -0.84 | 265 | -0.22 | 3.40 | 3.62 | ||
| 2067 | 17.76 | 16.86 | -0.90 | 262 | -0.22 | 3.40 | 3.62 | ||
| 2068 | 17.83 | 16.87 | -0.96 | 258 | -0.22 | 3.40 | 3.62 | ||
| 2069 | 17.90 | 16.87 | -1.02 | 254 | -0.22 | 3.40 | 3.62 | ||
| 2070 | 17.97 | 16.88 | -1.09 | 250 | -0.22 | 3.40 | 3.62 | ||
| 2071 | 18.03 | 16.89 | -1.15 | 246 | -0.22 | 3.40 | 3.62 | ||
| 2072 | 18.09 | 16.89 | -1.20 | 241 | -0.22 | 3.40 | 3.62 | ||
| 2073 | 18.15 | 16.90 | -1.26 | 236 | -0.22 | 3.40 | 3.62 | ||
| 2074 | 18.21 | 16.90 | -1.31 | 231 | -0.22 | 3.40 | 3.62 | ||
| 2075 | 18.26 | 16.90 | -1.36 | 225 | -0.22 | 3.40 | 3.62 | ||
| 2076 | 18.30 | 16.91 | -1.40 | 220 | -0.22 | 3.40 | 3.62 | ||
| 2077 | 18.34 | 16.91 | -1.43 | 214 | -0.22 | 3.40 | 3.62 | ||
| 2078 | 18.36 | 16.91 | -1.45 | 208 | -0.22 | 3.40 | 3.62 | ||
| 2079 | 18.37 | 16.92 | -1.46 | 202 | -0.22 | 3.40 | 3.62 | ||
| 2080 | 18.37 | 16.92 | -1.46 | 196 | -0.22 | 3.40 | 3.62 | ||
| 2081 | 18.37 | 16.92 | -1.45 | 190 | -0.22 | 3.40 | 3.62 | ||
| 2082 | 18.35 | 16.92 | -1.43 | 184 | -0.22 | 3.40 | 3.62 | ||
| 2083 | 18.33 | 16.92 | -1.41 | 178 | -0.22 | 3.40 | 3.62 | ||
| 2084 | 18.29 | 16.91 | -1.38 | 172 | -0.22 | 3.40 | 3.62 | ||
| 2085 | 18.25 | 16.91 | -1.34 | 167 | -0.22 | 3.40 | 3.62 | ||
| 2086 | 18.20 | 16.91 | -1.29 | 161 | -0.22 | 3.40 | 3.62 | ||
| 2087 | 18.15 | 16.91 | -1.24 | 156 | -0.22 | 3.40 | 3.62 | ||
| 2088 | 18.09 | 16.90 | -1.18 | 151 | -0.22 | 3.40 | 3.62 | ||
| 2089 | 18.03 | 16.90 | -1.13 | 147 | -0.22 | 3.40 | 3.62 | ||
| 2090 | 17.97 | 16.89 | -1.08 | 142 | -0.22 | 3.40 | 3.62 | ||
| 2091 | 17.93 | 16.89 | -1.03 | 138 | -0.21 | 3.40 | 3.62 | ||
| 2092 | 17.89 | 16.89 | -1.00 | 133 | -0.21 | 3.40 | 3.62 | ||
| 2093 | 17.87 | 16.89 | -0.98 | 129 | -0.21 | 3.40 | 3.62 | ||
| 2094 | 17.85 | 16.89 | -0.97 | 125 | -0.21 | 3.40 | 3.62 | ||
| 2095 | 17.85 | 16.89 | -0.97 | 121 | -0.21 | 3.40 | 3.62 | ||
| 2096 | 17.86 | 16.89 | -0.97 | 117 | -0.21 | 3.40 | 3.62 | ||
| 2097 | 17.88 | 16.89 | -0.99 | 112 | -0.21 | 3.40 | 3.62 | ||
| 2098 | 17.91 | 16.89 | -1.02 | 108 | -0.21 | 3.41 | 3.62 | ||
| 2099 | 17.95 | 16.90 | -1.05 | 103 | -0.21 | 3.41 | 3.62 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.14% | 17.15% | 0.01% | N/A | -0.15% | 3.35% | 3.51% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.