Proposed Provision: Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2012-2021). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2012-2021). Provide benefit credit on earnings taxed up to the revised taxable maximum.

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

Year Present Law Provision
2011353353
2012347347
2013341342
2014334339
2015328338
2016321337
2017314337
2018306337
2019296335
2020284333
2021272331
2022259328
2023245324
2024230319
2025214314
2026198308
2027181301
2028164293
2029145285
2030127276
2031107267
203287257
203367248
203446238
203525228
20364218
2037-18208
2038-40198
2039-62188
2040-85178
2041-108168
2042-130158
2043-153148
2044-176139
2045-200129
2046-223119
2047-247109
2048-27199
2049-29589
2050-31979
2051-34369
2052-36858
2053-39348
2054-41837
2055-44326
2056-46815
2057-4944
2058-521-8
2059-548-20
2060-575-32
2061-602-45
2062-630-57
2063-659-70
2064-687-83
2065-716-96
2066-746-110
2067-775-124
2068-805-138
2069-835-152
2070-866-166
2071-897-181
2072-928-196
2073-960-212
2074-992-227
2075-1025-244
2076-1058-260
2077-1092-277
2078-1126-294
2079-1161-312
2080-1196-329
2081-1232-348
2082-1268-366
2083-1305-385
2084-1342-404
2085-1380-424
2086-1419-444
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