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Detailed Single Year Tables

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) to 14.6 percent in 2024-2053, and to 16.8 percent in years 2054 and later.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201113.3512.52-0.82
353
0.000.000.00
201213.2312.87-0.36
347
0.000.000.00
201313.1812.87-0.31
341
0.000.000.00
201413.1812.92-0.27
334
0.000.000.00
201513.2412.94-0.30
328
0.000.000.00
201613.3312.97-0.36
321
0.000.000.00
201713.4613.00-0.46
314
0.000.000.00
201813.6213.03-0.59
306
0.000.000.00
201913.8813.04-0.84
296
0.000.000.00
202014.2013.06-1.14
284
0.000.000.00
202114.5213.08-1.44
272
0.000.000.00
202214.8313.10-1.73
259
0.000.000.00
202315.1213.12-2.01
245
0.000.000.00
202415.4015.08-0.32
230
0.001.951.95
202515.6715.23-0.44
227
0.002.082.08
202615.9215.25-0.67
224
0.002.082.09
202716.1415.26-0.88
219
0.002.082.09
202816.3415.27-1.07
214
-0.012.082.09
202916.5115.28-1.23
209
-0.012.082.09
203016.6515.29-1.36
202
-0.012.082.09
203116.7515.30-1.45
196
-0.012.082.09
203216.8515.31-1.54
188
-0.012.082.09
203316.9215.32-1.60
181
-0.012.082.09
203416.9715.32-1.65
173
-0.012.082.09
203517.0015.33-1.68
166
-0.012.082.09
203617.0215.33-1.69
158
-0.012.082.09
203717.0315.33-1.70
150
-0.012.082.10
203817.0115.33-1.67
142
-0.012.082.10
203916.9715.33-1.64
134
-0.012.082.10
204016.9415.33-1.61
127
-0.022.082.10
204116.8915.33-1.56
119
-0.022.082.10
204216.8515.33-1.52
112
-0.022.082.10
204316.8215.33-1.49
105
-0.022.092.11
204416.7915.33-1.46
98
-0.022.092.11
204516.7615.33-1.43
90
-0.022.092.11
204616.7315.33-1.40
83
-0.032.092.11
204716.7115.33-1.38
76
-0.032.092.11
204816.6915.33-1.36
69
-0.032.092.12
204916.6715.33-1.34
63
-0.032.092.12
205016.6515.33-1.32
56
-0.032.092.12
205116.6415.33-1.31
49
-0.032.092.12
205216.6415.33-1.31
42
-0.042.092.12
205316.6515.33-1.32
34
-0.042.092.13
205416.6617.270.61
27
-0.044.024.06
205516.6717.400.73
31
-0.044.154.20
205616.6917.410.71
36
-0.054.154.20
205716.7117.410.70
41
-0.054.154.20
205816.7317.410.68
46
-0.054.164.21
205916.7417.410.67
50
-0.054.164.21
206016.7517.420.67
55
-0.064.164.21
206116.7517.420.66
60
-0.064.164.22
206216.7617.420.66
65
-0.064.164.22
206316.7717.420.65
69
-0.064.164.22
206416.7817.420.64
74
-0.074.164.23
206516.8017.430.63
79
-0.074.164.23
206616.8217.430.61
84
-0.074.164.24
206716.8417.430.59
88
-0.074.164.24
206816.8617.440.57
93
-0.084.174.24
206916.8917.440.55
97
-0.084.174.25
207016.9217.440.52
102
-0.084.174.25
207116.9517.450.50
106
-0.084.174.25
207216.9817.450.47
110
-0.094.174.26
207317.0217.450.44
114
-0.094.174.26
207417.0517.460.41
118
-0.094.174.26
207517.0917.460.37
122
-0.094.174.27
207617.1217.460.35
126
-0.104.174.27
207717.1517.470.32
129
-0.104.184.27
207817.1917.470.29
133
-0.104.184.28
207917.2217.470.25
136
-0.104.184.28
208017.2617.480.22
139
-0.114.184.29
208117.2917.480.19
142
-0.114.184.29
208217.3317.490.16
144
-0.114.184.29
208317.3717.490.12
147
-0.114.184.30
208417.4017.490.09
149
-0.114.184.30
208517.4417.500.06
152
-0.124.194.30
208617.4817.500.02
154
-0.114.194.30



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2011 Trustees Report.
2011-2085 16.22% 16.29% 0.08%
N/A
-0.03% 2.27% 2.30%
 
1 Under present law, the year of exhaustion is 2036.

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Last reviewed or modified January 5, 2012