Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Beginning in 2020, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2020. Provide proportional benefit credit for additional earnings taxed.

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2012	13.83	12.89	-0.93	340	0.00	0.00	0.00
2013	13.95	12.83	-1.12	329	0.00	0.00	0.00
2014	13.98	12.93	-1.05	315	0.00	0.00	0.00
2015	13.97	12.95	-1.01	302	0.00	0.00	0.00
2016	13.94	12.98	-0.96	290	0.00	0.00	0.00
2017	13.91	13.01	-0.91	277	0.00	0.00	0.00
2018	13.96	13.03	-0.93	265	0.00	0.00	0.00
2019	14.13	13.05	-1.08	253	0.00	0.00	0.00
2020	14.37	13.28	-1.09	240	0.00	0.21	0.21
2021	14.65	13.33	-1.33	228	0.00	0.22	0.22
2022	14.97	13.35	-1.63	215	0.00	0.22	0.22
2023	15.29	13.36	-1.92	201	0.00	0.22	0.22
2024	15.60	13.38	-2.21	187	0.00	0.22	0.22
2025	15.88	13.40	-2.48	171	0.00	0.22	0.22
2026	16.16	13.42	-2.74	155	0.00	0.22	0.22
2027	16.42	13.43	-2.98	138	0.00	0.22	0.22
2028	16.64	13.45	-3.20	121	0.01	0.22	0.22
2029	16.84	13.46	-3.38	102	0.01	0.22	0.21
2030	17.01	13.47	-3.54	83	0.01	0.22	0.21
2031	17.16	13.48	-3.68	63	0.01	0.22	0.21
2032	17.26	13.49	-3.77	43	0.01	0.22	0.21
2033	17.34	13.49	-3.85	22	0.01	0.22	0.21
2034	17.39	13.50	-3.90	0	0.02	0.22	0.21
2035	17.43	13.50	-3.92	----	0.02	0.22	0.21
2036	17.45	13.50	-3.94	----	0.02	0.22	0.20
2037	17.45	13.51	-3.95	----	0.02	0.22	0.20
2038	17.44	13.51	-3.94	----	0.02	0.22	0.20
2039	17.42	13.51	-3.91	----	0.03	0.22	0.20
2040	17.39	13.51	-3.88	----	0.03	0.22	0.20
2041	17.35	13.51	-3.84	----	0.03	0.23	0.19
2042	17.31	13.51	-3.81	----	0.03	0.23	0.19
2043	17.28	13.50	-3.77	----	0.04	0.23	0.19
2044	17.25	13.50	-3.75	----	0.04	0.23	0.19
2045	17.23	13.50	-3.72	----	0.04	0.23	0.19
2046	17.20	13.50	-3.70	----	0.04	0.23	0.18
2047	17.18	13.50	-3.68	----	0.05	0.23	0.18
2048	17.16	13.50	-3.66	----	0.05	0.23	0.18
2049	17.15	13.50	-3.64	----	0.05	0.23	0.18
2050	17.13	13.50	-3.63	----	0.05	0.23	0.18
2051	17.13	13.50	-3.62	----	0.06	0.23	0.17
2052	17.13	13.51	-3.62	----	0.06	0.23	0.17
2053	17.13	13.51	-3.63	----	0.06	0.23	0.17
2054	17.14	13.51	-3.64	----	0.06	0.23	0.17
2055	17.16	13.51	-3.65	----	0.07	0.23	0.16
2056	17.18	13.51	-3.67	----	0.07	0.23	0.16
2057	17.20	13.51	-3.68	----	0.07	0.23	0.16
2058	17.21	13.52	-3.70	----	0.08	0.23	0.16
2059	17.23	13.52	-3.71	----	0.08	0.23	0.16
2060	17.24	13.52	-3.72	----	0.08	0.23	0.15
2061	17.25	13.52	-3.73	----	0.08	0.24	0.15
2062	17.25	13.52	-3.73	----	0.09	0.24	0.15
2063	17.26	13.52	-3.74	----	0.09	0.24	0.15
2064	17.28	13.52	-3.75	----	0.09	0.24	0.15
2065	17.29	13.53	-3.77	----	0.09	0.24	0.14
2066	17.31	13.53	-3.79	----	0.09	0.24	0.14
2067	17.34	13.53	-3.81	----	0.10	0.24	0.14
2068	17.36	13.53	-3.83	----	0.10	0.24	0.14
2069	17.39	13.53	-3.86	----	0.10	0.24	0.14
2070	17.43	13.54	-3.89	----	0.10	0.24	0.14
2071	17.46	13.54	-3.92	----	0.10	0.24	0.14
2072	17.48	13.54	-3.94	----	0.10	0.24	0.14
2073	17.51	13.54	-3.97	----	0.11	0.24	0.13
2074	17.54	13.54	-4.00	----	0.11	0.24	0.13
2075	17.57	13.55	-4.02	----	0.11	0.24	0.13
2076	17.60	13.55	-4.05	----	0.11	0.24	0.13
2077	17.62	13.55	-4.07	----	0.11	0.24	0.13
2078	17.65	13.55	-4.10	----	0.11	0.24	0.13
2079	17.68	13.56	-4.13	----	0.11	0.24	0.13
2080	17.72	13.56	-4.16	----	0.11	0.24	0.13
2081	17.75	13.56	-4.19	----	0.11	0.24	0.13
2082	17.79	13.56	-4.23	----	0.11	0.24	0.13
2083	17.83	13.57	-4.26	----	0.11	0.24	0.13
2084	17.87	13.57	-4.30	----	0.12	0.24	0.13
2085	17.91	13.57	-4.34	----	0.12	0.24	0.13
2086	17.95	13.57	-4.38	----	0.12	0.24	0.13
2087	17.99	13.58	-4.41	----	0.12	0.24	0.13

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086	16.73%	14.22%	-2.51%	2034	0.04%	0.20%	0.15%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Description of Proposed Provision: Beginning in 2020, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2020. Provide proportional benefit credit for additional earnings taxed.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Beginning in 2020, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2020. Provide proportional benefit credit for additional earnings taxed.