Proposed Provision: Eliminate the taxable maximum in years 2013 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

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

Year Present Law Provision
2012340340
2013329329
2014315330
2015302333
2016290336
2017277340
2018265343
2019253346
2020240347
2021227347
2022212346
2023197344
2024181341
2025164337
2026147333
2027129329
2028110324
202990318
203070312
203149306
203227299
20335293
2034-18286
2035-41279
2036-65272
2037-89266
2038-114259
2039-138253
2040-163246
2041-189240
2042-215235
2043-240229
2044-266223
2045-292218
2046-319212
2047-346207
2048-373201
2049-400196
2050-428191
2051-456186
2052-484180
2053-512175
2054-540169
2055-569164
2056-598158
2057-628152
2058-657146
2059-688139
2060-719133
2061-750127
2062-782120
2063-814114
2064-847107
2065-880100
2066-91393
2067-94686
2068-98078
2069-101471
2070-104963
2071-108455
2072-112047
2073-115638
2074-119329
2075-123020
2076-126811
2077-13072
2078-1346-8
2079-1385-18
2080-1425-28
2081-1465-38
2082-1505-49
2083-1547-60
2084-1588-71
2085-1631-82
2086-1673-94
2087-1717-106
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