Proposed Provision: Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2012. For the employee payroll tax (6.2 percent) and for benefit calculation purposes, beginning in 2012, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

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

Year Present Law Provision
2011353353
2012347347
2013341349
2014334350
2015328352
2016321354
2017314356
2018306356
2019296354
2020284351
2021272346
2022259341
2023245335
2024230329
2025214321
2026198314
2027181306
2028164297
2029145287
2030127278
2031107268
203287257
203367247
203446237
203525226
20364216
2037-18205
2038-40195
2039-62185
2040-85175
2041-108165
2042-130155
2043-153146
2044-176136
2045-200126
2046-223117
2047-247107
2048-27198
2049-29589
2050-31979
2051-34370
2052-36860
2053-39350
2054-41840
2055-44330
2056-46819
2057-4949
2058-521-2
2059-548-14
2060-575-25
2061-602-37
2062-630-48
2063-659-60
2064-687-73
2065-716-85
2066-746-98
2067-775-111
2068-805-124
2069-835-138
2070-866-152
2071-897-166
2072-928-180
2073-960-195
2074-992-210
2075-1025-225
2076-1058-241
2077-1092-257
2078-1126-274
2079-1161-291
2080-1196-308
2081-1232-326
2082-1268-344
2083-1305-362
2084-1342-381
2085-1380-400
2086-1419-419
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