Proposed Provision: Raise the payroll tax rates gradually (for employees and employers combined) by 0.1 percentage points in 2016; continue this increase each year for 20 years. By 2035, the combined employee and employer payroll tax rate would be 14.4 percent.
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 | 346 |
2014 | 341 | 341 |
2015 | 335 | 335 |
2016 | 330 | 330 |
2017 | 324 | 324 |
2018 | 317 | 319 |
2019 | 309 | 313 |
2020 | 299 | 306 |
2021 | 289 | 298 |
2022 | 277 | 291 |
2023 | 264 | 282 |
2024 | 251 | 273 |
2025 | 237 | 264 |
2026 | 221 | 255 |
2027 | 205 | 246 |
2028 | 189 | 236 |
2029 | 171 | 226 |
2030 | 154 | 217 |
2031 | 136 | 208 |
2032 | 117 | 199 |
2033 | 98 | 190 |
2034 | 79 | 181 |
2035 | 59 | 174 |
2036 | 39 | 166 |
2037 | 19 | 159 |
2038 | -1 | 151 |
2039 | -21 | 144 |
2040 | -42 | 137 |
2041 | -63 | 131 |
2042 | -84 | 124 |
2043 | -105 | 117 |
2044 | -126 | 111 |
2045 | -147 | 105 |
2046 | -168 | 99 |
2047 | -189 | 92 |
2048 | -211 | 86 |
2049 | -233 | 80 |
2050 | -255 | 74 |
2051 | -277 | 68 |
2052 | -299 | 62 |
2053 | -321 | 56 |
2054 | -344 | 50 |
2055 | -366 | 43 |
2056 | -389 | 37 |
2057 | -412 | 30 |
2058 | -436 | 23 |
2059 | -460 | 16 |
2060 | -485 | 8 |
2061 | -509 | 1 |
2062 | -534 | -7 |
2063 | -560 | -15 |
2064 | -586 | -23 |
2065 | -612 | -31 |
2066 | -638 | -40 |
2067 | -665 | -49 |
2068 | -692 | -58 |
2069 | -720 | -67 |
2070 | -748 | -77 |
2071 | -776 | -87 |
2072 | -805 | -97 |
2073 | -834 | -107 |
2074 | -864 | -118 |
2075 | -894 | -129 |
2076 | -925 | -141 |
2077 | -957 | -153 |
2078 | -989 | -165 |
2079 | -1021 | -177 |
2080 | -1054 | -190 |
2081 | -1087 | -203 |
2082 | -1121 | -217 |
2083 | -1156 | -231 |
2084 | -1191 | -245 |
2085 | -1227 | -260 |
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