Proposed Provision: Starting in 2012, allow workers to choose whether to have their payroll tax rate reduced by 2 percentage points. For each calendar year that a worker chooses to have their payroll tax reduced, their NRA increases 1 month. We assume 2/3 of workers each year will choose this payroll reduction. The General Fund of the Treasury reimburses the OASI and DI Trust Funds for the reduction in payroll tax revenue.

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

Year Present Law Provision
2011353353
2012347347
2013341341
2014334334
2015328328
2016321321
2017314314
2018306306
2019296296
2020284285
2021272273
2022259260
2023245247
2024230233
2025214218
2026198203
2027181187
2028164170
2029145152
2030127135
2031107116
20328797
20336778
20344659
20352539
2036420
2037-180
2038-40-20
2039-62-41
2040-85-61
2041-108-81
2042-130-102
2043-153-122
2044-176-142
2045-200-162
2046-223-183
2047-247-203
2048-271-223
2049-295-243
2050-319-264
2051-343-284
2052-368-304
2053-393-324
2054-418-343
2055-443-363
2056-468-383
2057-494-403
2058-521-423
2059-548-443
2060-575-464
2061-602-485
2062-630-506
2063-659-527
2064-687-548
2065-716-569
2066-746-590
2067-775-611
2068-805-633
2069-835-654
2070-866-676
2071-897-699
2072-928-721
2073-960-744
2074-992-767
2075-1025-791
2076-1058-815
2077-1092-840
2078-1126-865
2079-1161-890
2080-1196-916
2081-1232-942
2082-1268-968
2083-1305-995
2084-1342-1022
2085-1380-1050
2086-1419-1078
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