Proposed Provision: Increase the taxable maximum by an additional 2 percent per year beginning in 2014 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum levels. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2012 | 340 | 340 |
2013 | 329 | 329 |
2014 | 315 | 315 |
2015 | 302 | 302 |
2016 | 290 | 290 |
2017 | 277 | 279 |
2018 | 265 | 268 |
2019 | 253 | 257 |
2020 | 240 | 246 |
2021 | 227 | 234 |
2022 | 212 | 221 |
2023 | 197 | 208 |
2024 | 181 | 194 |
2025 | 164 | 180 |
2026 | 147 | 165 |
2027 | 129 | 149 |
2028 | 110 | 133 |
2029 | 90 | 117 |
2030 | 70 | 99 |
2031 | 49 | 81 |
2032 | 27 | 63 |
2033 | 5 | 44 |
2034 | -18 | 26 |
2035 | -41 | 6 |
2036 | -65 | -13 |
2037 | -89 | -33 |
2038 | -114 | -52 |
2039 | -138 | -72 |
2040 | -163 | -92 |
2041 | -189 | -112 |
2042 | -215 | -132 |
2043 | -240 | -152 |
2044 | -266 | -172 |
2045 | -292 | -192 |
2046 | -319 | -212 |
2047 | -346 | -232 |
2048 | -373 | -253 |
2049 | -400 | -273 |
2050 | -428 | -293 |
2051 | -456 | -314 |
2052 | -484 | -334 |
2053 | -512 | -355 |
2054 | -540 | -376 |
2055 | -569 | -397 |
2056 | -598 | -418 |
2057 | -628 | -440 |
2058 | -657 | -462 |
2059 | -688 | -484 |
2060 | -719 | -507 |
2061 | -750 | -530 |
2062 | -782 | -554 |
2063 | -814 | -578 |
2064 | -847 | -602 |
2065 | -880 | -626 |
2066 | -913 | -651 |
2067 | -946 | -676 |
2068 | -980 | -701 |
2069 | -1014 | -727 |
2070 | -1049 | -752 |
2071 | -1084 | -779 |
2072 | -1120 | -806 |
2073 | -1156 | -833 |
2074 | -1193 | -861 |
2075 | -1230 | -889 |
2076 | -1268 | -918 |
2077 | -1307 | -947 |
2078 | -1346 | -976 |
2079 | -1385 | -1006 |
2080 | -1425 | -1036 |
2081 | -1465 | -1067 |
2082 | -1505 | -1098 |
2083 | -1547 | -1129 |
2084 | -1588 | -1161 |
2085 | -1631 | -1194 |
2086 | -1673 | -1227 |
2087 | -1717 | -1260 |
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