Proposed Provision: Give parents earnings credits for up to five years if they have a child under 6. The earnings credited for a childcare year would be such that the resulting earnings assigned to the parents would equal one half of the Social Security average-wage index -- about $21,542 in 2010. The credits would be available for all past years to newly eligible retired-worker and disabled-worker beneficiaries in 2011 and later. The 5 most advantageous years would be used if more than 5 childcare credit years are possible; that is, the 5 years that make the biggest difference in indexed earnings.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2010 | 355 | 355 |
2011 | 353 | 353 |
2012 | 350 | 350 |
2013 | 346 | 344 |
2014 | 341 | 339 |
2015 | 335 | 333 |
2016 | 330 | 326 |
2017 | 324 | 319 |
2018 | 317 | 312 |
2019 | 309 | 302 |
2020 | 299 | 292 |
2021 | 289 | 280 |
2022 | 277 | 268 |
2023 | 264 | 254 |
2024 | 251 | 239 |
2025 | 237 | 223 |
2026 | 221 | 207 |
2027 | 205 | 190 |
2028 | 189 | 172 |
2029 | 171 | 153 |
2030 | 154 | 134 |
2031 | 136 | 114 |
2032 | 117 | 94 |
2033 | 98 | 74 |
2034 | 79 | 53 |
2035 | 59 | 32 |
2036 | 39 | 10 |
2037 | 19 | -12 |
2038 | -1 | -34 |
2039 | -21 | -56 |
2040 | -42 | -79 |
2041 | -63 | -102 |
2042 | -84 | -125 |
2043 | -105 | -148 |
2044 | -126 | -171 |
2045 | -147 | -194 |
2046 | -168 | -218 |
2047 | -189 | -241 |
2048 | -211 | -265 |
2049 | -233 | -289 |
2050 | -255 | -314 |
2051 | -277 | -338 |
2052 | -299 | -363 |
2053 | -321 | -388 |
2054 | -344 | -413 |
2055 | -366 | -438 |
2056 | -389 | -463 |
2057 | -412 | -489 |
2058 | -436 | -515 |
2059 | -460 | -542 |
2060 | -485 | -569 |
2061 | -509 | -597 |
2062 | -534 | -624 |
2063 | -560 | -653 |
2064 | -586 | -681 |
2065 | -612 | -710 |
2066 | -638 | -740 |
2067 | -665 | -769 |
2068 | -692 | -799 |
2069 | -720 | -830 |
2070 | -748 | -861 |
2071 | -776 | -892 |
2072 | -805 | -924 |
2073 | -834 | -956 |
2074 | -864 | -989 |
2075 | -894 | -1022 |
2076 | -925 | -1056 |
2077 | -957 | -1091 |
2078 | -989 | -1126 |
2079 | -1021 | -1161 |
2080 | -1054 | -1197 |
2081 | -1087 | -1234 |
2082 | -1121 | -1271 |
2083 | -1156 | -1309 |
2084 | -1191 | -1348 |
2085 | -1227 | -1387 |
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