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 |
2011 | 353 | 353 |
2012 | 347 | 347 |
2013 | 341 | 342 |
2014 | 334 | 339 |
2015 | 328 | 338 |
2016 | 321 | 337 |
2017 | 314 | 337 |
2018 | 306 | 337 |
2019 | 296 | 335 |
2020 | 284 | 333 |
2021 | 272 | 331 |
2022 | 259 | 328 |
2023 | 245 | 324 |
2024 | 230 | 319 |
2025 | 214 | 314 |
2026 | 198 | 308 |
2027 | 181 | 301 |
2028 | 164 | 293 |
2029 | 145 | 285 |
2030 | 127 | 276 |
2031 | 107 | 267 |
2032 | 87 | 257 |
2033 | 67 | 248 |
2034 | 46 | 238 |
2035 | 25 | 228 |
2036 | 4 | 218 |
2037 | -18 | 208 |
2038 | -40 | 198 |
2039 | -62 | 188 |
2040 | -85 | 178 |
2041 | -108 | 168 |
2042 | -130 | 158 |
2043 | -153 | 148 |
2044 | -176 | 139 |
2045 | -200 | 129 |
2046 | -223 | 119 |
2047 | -247 | 109 |
2048 | -271 | 99 |
2049 | -295 | 89 |
2050 | -319 | 79 |
2051 | -343 | 69 |
2052 | -368 | 58 |
2053 | -393 | 48 |
2054 | -418 | 37 |
2055 | -443 | 26 |
2056 | -468 | 15 |
2057 | -494 | 4 |
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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