Proposed Provision: Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2019 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2019, based on changes in the average wage index (AWI).
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2011 | 353 | 353 |
| 2012 | 347 | 347 |
| 2013 | 341 | 341 |
| 2014 | 334 | 334 |
| 2015 | 328 | 328 |
| 2016 | 321 | 321 |
| 2017 | 314 | 314 |
| 2018 | 306 | 306 |
| 2019 | 296 | 296 |
| 2020 | 284 | 285 |
| 2021 | 272 | 272 |
| 2022 | 259 | 260 |
| 2023 | 245 | 246 |
| 2024 | 230 | 232 |
| 2025 | 214 | 218 |
| 2026 | 198 | 202 |
| 2027 | 181 | 187 |
| 2028 | 164 | 170 |
| 2029 | 145 | 153 |
| 2030 | 127 | 135 |
| 2031 | 107 | 117 |
| 2032 | 87 | 98 |
| 2033 | 67 | 79 |
| 2034 | 46 | 60 |
| 2035 | 25 | 40 |
| 2036 | 4 | 20 |
| 2037 | -18 | 0 |
| 2038 | -40 | -20 |
| 2039 | -62 | -41 |
| 2040 | -85 | -62 |
| 2041 | -108 | -83 |
| 2042 | -130 | -104 |
| 2043 | -153 | -125 |
| 2044 | -176 | -146 |
| 2045 | -200 | -167 |
| 2046 | -223 | -189 |
| 2047 | -247 | -210 |
| 2048 | -271 | -232 |
| 2049 | -295 | -254 |
| 2050 | -319 | -276 |
| 2051 | -343 | -299 |
| 2052 | -368 | -321 |
| 2053 | -393 | -344 |
| 2054 | -418 | -366 |
| 2055 | -443 | -390 |
| 2056 | -468 | -413 |
| 2057 | -494 | -437 |
| 2058 | -521 | -461 |
| 2059 | -548 | -485 |
| 2060 | -575 | -510 |
| 2061 | -602 | -535 |
| 2062 | -630 | -561 |
| 2063 | -659 | -587 |
| 2064 | -687 | -613 |
| 2065 | -716 | -639 |
| 2066 | -746 | -666 |
| 2067 | -775 | -693 |
| 2068 | -805 | -720 |
| 2069 | -835 | -748 |
| 2070 | -866 | -776 |
| 2071 | -897 | -804 |
| 2072 | -928 | -833 |
| 2073 | -960 | -862 |
| 2074 | -992 | -892 |
| 2075 | -1025 | -922 |
| 2076 | -1058 | -953 |
| 2077 | -1092 | -984 |
| 2078 | -1126 | -1015 |
| 2079 | -1161 | -1047 |
| 2080 | -1196 | -1080 |
| 2081 | -1232 | -1113 |
| 2082 | -1268 | -1146 |
| 2083 | -1305 | -1180 |
| 2084 | -1342 | -1215 |
| 2085 | -1380 | -1250 |
| 2086 | -1419 | -1285 |
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