Proposed Provision: Starting in 2013, allow workers to choose whether to have their payroll tax rate reduced by 2 percentage points. For each calendar year that a worker chooses to have their payroll tax reduced, their NRA increases 1 month. We assume 2/3 of workers each year will choose this payroll reduction. The General Fund of the Treasury reimburses the OASI and DI Trust Funds for the reduction in payroll tax revenue.

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

Year Present Law Provision
2012340340
2013329329
2014315315
2015302302
2016290290
2017277277
2018265266
2019253254
2020240241
2021227227
2022212214
2023197199
2024181183
2025164167
2026147151
2027129134
2028110116
20299097
20307077
20314957
20322736
2033515
2034-18-6
2035-41-28
2036-65-51
2037-89-73
2038-114-96
2039-138-119
2040-163-143
2041-189-166
2042-215-190
2043-240-213
2044-266-237
2045-292-261
2046-319-285
2047-346-309
2048-373-333
2049-400-357
2050-428-382
2051-456-406
2052-484-430
2053-512-454
2054-540-478
2055-569-502
2056-598-526
2057-628-550
2058-657-575
2059-688-600
2060-719-625
2061-750-650
2062-782-676
2063-814-701
2064-847-727
2065-880-753
2066-913-779
2067-946-806
2068-980-832
2069-1014-859
2070-1049-885
2071-1084-913
2072-1120-940
2073-1156-969
2074-1193-997
2075-1230-1026
2076-1268-1056
2077-1307-1086
2078-1346-1117
2079-1385-1147
2080-1425-1178
2081-1465-1209
2082-1505-1241
2083-1547-1273
2084-1588-1305
2085-1631-1338
2086-1673-1371
2087-1717-1405
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