Proposed Provision: Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2013-2022). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2013-2022). 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 |
| 2012 | 340 | 340 |
| 2013 | 329 | 329 |
| 2014 | 315 | 317 |
| 2015 | 302 | 307 |
| 2016 | 290 | 299 |
| 2017 | 277 | 293 |
| 2018 | 265 | 288 |
| 2019 | 253 | 284 |
| 2020 | 240 | 280 |
| 2021 | 227 | 275 |
| 2022 | 212 | 270 |
| 2023 | 197 | 264 |
| 2024 | 181 | 258 |
| 2025 | 164 | 251 |
| 2026 | 147 | 243 |
| 2027 | 129 | 235 |
| 2028 | 110 | 225 |
| 2029 | 90 | 215 |
| 2030 | 70 | 205 |
| 2031 | 49 | 194 |
| 2032 | 27 | 182 |
| 2033 | 5 | 170 |
| 2034 | -18 | 158 |
| 2035 | -41 | 145 |
| 2036 | -65 | 133 |
| 2037 | -89 | 120 |
| 2038 | -114 | 107 |
| 2039 | -138 | 94 |
| 2040 | -163 | 82 |
| 2041 | -189 | 69 |
| 2042 | -215 | 56 |
| 2043 | -240 | 43 |
| 2044 | -266 | 30 |
| 2045 | -292 | 16 |
| 2046 | -319 | 3 |
| 2047 | -346 | -10 |
| 2048 | -373 | -23 |
| 2049 | -400 | -37 |
| 2050 | -428 | -51 |
| 2051 | -456 | -64 |
| 2052 | -484 | -78 |
| 2053 | -512 | -92 |
| 2054 | -540 | -106 |
| 2055 | -569 | -121 |
| 2056 | -598 | -136 |
| 2057 | -628 | -151 |
| 2058 | -657 | -166 |
| 2059 | -688 | -182 |
| 2060 | -719 | -197 |
| 2061 | -750 | -214 |
| 2062 | -782 | -230 |
| 2063 | -814 | -247 |
| 2064 | -847 | -263 |
| 2065 | -880 | -281 |
| 2066 | -913 | -298 |
| 2067 | -946 | -315 |
| 2068 | -980 | -333 |
| 2069 | -1014 | -351 |
| 2070 | -1049 | -370 |
| 2071 | -1084 | -389 |
| 2072 | -1120 | -408 |
| 2073 | -1156 | -427 |
| 2074 | -1193 | -447 |
| 2075 | -1230 | -467 |
| 2076 | -1268 | -488 |
| 2077 | -1307 | -509 |
| 2078 | -1346 | -530 |
| 2079 | -1385 | -552 |
| 2080 | -1425 | -574 |
| 2081 | -1465 | -596 |
| 2082 | -1505 | -619 |
| 2083 | -1547 | -642 |
| 2084 | -1588 | -665 |
| 2085 | -1631 | -689 |
| 2086 | -1673 | -713 |
| 2087 | -1717 | -738 |
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