Detailed Single Year Tables
Description of Proposed Provision:
E3.15: Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2025-2034). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2025-2034). Provide benefit credit for earnings taxed up to the revised taxable maximum.
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 | 13.16 | -1.84 | 171 | 0.00 | 0.27 | 0.27 | ||
| 2026 | 15.20 | 13.59 | -1.61 | 154 | -0.00 | 0.52 | 0.52 | ||
| 2027 | 15.36 | 13.85 | -1.51 | 139 | -0.00 | 0.75 | 0.75 | ||
| 2028 | 15.42 | 14.09 | -1.33 | 127 | -0.00 | 0.95 | 0.96 | ||
| 2029 | 15.47 | 14.30 | -1.17 | 116 | -0.00 | 1.14 | 1.14 | ||
| 2030 | 15.53 | 14.48 | -1.05 | 107 | -0.00 | 1.30 | 1.30 | ||
| 2031 | 15.58 | 14.65 | -0.93 | 98 | -0.00 | 1.44 | 1.44 | ||
| 2032 | 15.60 | 14.80 | -0.81 | 91 | 0.00 | 1.58 | 1.58 | ||
| 2033 | 15.66 | 14.96 | -0.71 | 85 | 0.00 | 1.69 | 1.69 | ||
| 2034 | 15.77 | 15.08 | -0.70 | 80 | 0.00 | 1.80 | 1.80 | ||
| 2035 | 15.89 | 15.09 | -0.79 | 75 | 0.00 | 1.81 | 1.81 | ||
| 2036 | 15.99 | 15.10 | -0.89 | 71 | 0.00 | 1.81 | 1.81 | ||
| 2037 | 16.10 | 15.11 | -0.98 | 65 | 0.00 | 1.81 | 1.81 | ||
| 2038 | 16.18 | 15.12 | -1.06 | 59 | 0.01 | 1.81 | 1.81 | ||
| 2039 | 16.26 | 15.13 | -1.13 | 53 | 0.01 | 1.81 | 1.80 | ||
| 2040 | 16.33 | 15.14 | -1.19 | 46 | 0.01 | 1.81 | 1.80 | ||
| 2041 | 16.40 | 15.14 | -1.25 | 39 | 0.01 | 1.81 | 1.80 | ||
| 2042 | 16.45 | 15.15 | -1.30 | 32 | 0.02 | 1.82 | 1.80 | ||
| 2043 | 16.50 | 15.16 | -1.35 | 24 | 0.02 | 1.82 | 1.80 | ||
| 2044 | 16.55 | 15.16 | -1.38 | 17 | 0.03 | 1.82 | 1.79 | ||
| 2045 | 16.58 | 15.17 | -1.42 | 8 | 0.03 | 1.82 | 1.79 | ||
| 2046 | 16.63 | 15.17 | -1.45 | 0 | 0.04 | 1.82 | 1.78 | ||
| 2047 | 16.67 | 15.18 | -1.49 | — | 0.05 | 1.83 | 1.78 | ||
| 2048 | 16.72 | 15.18 | -1.54 | — | 0.06 | 1.83 | 1.77 | ||
| 2049 | 16.77 | 15.19 | -1.58 | — | 0.06 | 1.83 | 1.77 | ||
| 2050 | 16.83 | 15.20 | -1.64 | — | 0.07 | 1.83 | 1.76 | ||
| 2051 | 16.90 | 15.20 | -1.69 | — | 0.08 | 1.83 | 1.75 | ||
| 2052 | 16.97 | 15.21 | -1.76 | — | 0.10 | 1.84 | 1.74 | ||
| 2053 | 17.04 | 15.22 | -1.82 | — | 0.11 | 1.84 | 1.73 | ||
| 2054 | 17.12 | 15.22 | -1.90 | — | 0.12 | 1.84 | 1.72 | ||
| 2055 | 17.21 | 15.23 | -1.98 | — | 0.13 | 1.84 | 1.71 | ||
| 2056 | 17.30 | 15.24 | -2.06 | — | 0.14 | 1.85 | 1.70 | ||
| 2057 | 17.40 | 15.25 | -2.15 | — | 0.16 | 1.85 | 1.69 | ||
| 2058 | 17.50 | 15.26 | -2.24 | — | 0.17 | 1.85 | 1.68 | ||
| 2059 | 17.60 | 15.27 | -2.33 | — | 0.19 | 1.85 | 1.67 | ||
| 2060 | 17.70 | 15.28 | -2.42 | — | 0.20 | 1.86 | 1.65 | ||
| 2061 | 17.80 | 15.29 | -2.51 | — | 0.22 | 1.86 | 1.64 | ||
| 2062 | 17.89 | 15.30 | -2.59 | — | 0.23 | 1.86 | 1.63 | ||
| 2063 | 17.97 | 15.31 | -2.66 | — | 0.25 | 1.86 | 1.62 | ||
| 2064 | 18.05 | 15.31 | -2.74 | — | 0.26 | 1.86 | 1.60 | ||
| 2065 | 18.13 | 15.32 | -2.81 | — | 0.28 | 1.87 | 1.59 | ||
| 2066 | 18.21 | 15.33 | -2.88 | — | 0.29 | 1.87 | 1.58 | ||
| 2067 | 18.29 | 15.34 | -2.95 | — | 0.31 | 1.87 | 1.57 | ||
| 2068 | 18.37 | 15.34 | -3.02 | — | 0.32 | 1.87 | 1.55 | ||
| 2069 | 18.45 | 15.35 | -3.10 | — | 0.34 | 1.88 | 1.54 | ||
| 2070 | 18.53 | 15.36 | -3.17 | — | 0.35 | 1.88 | 1.53 | ||
| 2071 | 18.61 | 15.37 | -3.25 | — | 0.36 | 1.88 | 1.52 | ||
| 2072 | 18.69 | 15.37 | -3.32 | — | 0.38 | 1.88 | 1.51 | ||
| 2073 | 18.77 | 15.38 | -3.38 | — | 0.39 | 1.89 | 1.50 | ||
| 2074 | 18.84 | 15.39 | -3.45 | — | 0.40 | 1.89 | 1.49 | ||
| 2075 | 18.90 | 15.39 | -3.51 | — | 0.42 | 1.89 | 1.48 | ||
| 2076 | 18.95 | 15.40 | -3.55 | — | 0.43 | 1.89 | 1.47 | ||
| 2077 | 19.00 | 15.40 | -3.59 | — | 0.44 | 1.89 | 1.46 | ||
| 2078 | 19.03 | 15.41 | -3.62 | — | 0.45 | 1.90 | 1.45 | ||
| 2079 | 19.05 | 15.41 | -3.64 | — | 0.45 | 1.90 | 1.44 | ||
| 2080 | 19.06 | 15.41 | -3.64 | — | 0.46 | 1.90 | 1.44 | ||
| 2081 | 19.06 | 15.42 | -3.64 | — | 0.47 | 1.90 | 1.43 | ||
| 2082 | 19.05 | 15.42 | -3.63 | — | 0.47 | 1.90 | 1.43 | ||
| 2083 | 19.03 | 15.42 | -3.61 | — | 0.48 | 1.90 | 1.42 | ||
| 2084 | 19.00 | 15.42 | -3.58 | — | 0.48 | 1.90 | 1.42 | ||
| 2085 | 18.96 | 15.41 | -3.54 | — | 0.49 | 1.90 | 1.42 | ||
| 2086 | 18.91 | 15.41 | -3.50 | — | 0.49 | 1.91 | 1.42 | ||
| 2087 | 18.86 | 15.41 | -3.45 | — | 0.49 | 1.91 | 1.41 | ||
| 2088 | 18.80 | 15.41 | -3.39 | — | 0.49 | 1.91 | 1.41 | ||
| 2089 | 18.74 | 15.40 | -3.34 | — | 0.49 | 1.91 | 1.41 | ||
| 2090 | 18.69 | 15.40 | -3.29 | — | 0.50 | 1.91 | 1.41 | ||
| 2091 | 18.64 | 15.40 | -3.24 | — | 0.50 | 1.91 | 1.41 | ||
| 2092 | 18.60 | 15.40 | -3.21 | — | 0.50 | 1.91 | 1.41 | ||
| 2093 | 18.58 | 15.39 | -3.18 | — | 0.50 | 1.91 | 1.41 | ||
| 2094 | 18.57 | 15.39 | -3.17 | — | 0.50 | 1.91 | 1.41 | ||
| 2095 | 18.57 | 15.40 | -3.17 | — | 0.50 | 1.91 | 1.41 | ||
| 2096 | 18.58 | 15.40 | -3.18 | — | 0.50 | 1.91 | 1.41 | ||
| 2097 | 18.60 | 15.40 | -3.20 | — | 0.50 | 1.91 | 1.41 | ||
| 2098 | 18.63 | 15.40 | -3.23 | — | 0.50 | 1.91 | 1.41 | ||
| 2099 | 18.67 | 15.41 | -3.26 | — | 0.51 | 1.92 | 1.41 | ||
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 | 17.51% | 15.52% | -1.98% | 2046 | 0.21% | 1.72% | 1.52% | ||
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.