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 $400,000 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	13.24	-1.13	240	0.00	0.17	0.17
2021	14.65	13.29	-1.37	228	0.00	0.18	0.18
2022	14.97	13.31	-1.67	215	0.00	0.18	0.18
2023	15.29	13.32	-1.96	201	0.00	0.18	0.18
2024	15.60	13.34	-2.25	185	0.00	0.18	0.18
2025	15.88	13.36	-2.52	170	0.00	0.18	0.18
2026	16.15	13.38	-2.78	154	0.00	0.18	0.18
2027	16.42	13.39	-3.02	137	0.00	0.18	0.18
2028	16.64	13.41	-3.23	119	0.00	0.18	0.18
2029	16.84	13.42	-3.42	100	0.01	0.18	0.18
2030	17.01	13.43	-3.58	81	0.01	0.18	0.17
2031	17.15	13.44	-3.71	61	0.01	0.18	0.17
2032	17.26	13.45	-3.81	40	0.01	0.18	0.17
2033	17.34	13.45	-3.89	19	0.01	0.18	0.17
2034	17.39	13.46	-3.93	----	0.01	0.18	0.17
2035	17.42	13.46	-3.96	----	0.01	0.18	0.17
2036	17.44	13.46	-3.98	----	0.02	0.18	0.17
2037	17.45	13.47	-3.98	----	0.02	0.18	0.17
2038	17.44	13.47	-3.97	----	0.02	0.18	0.16
2039	17.41	13.47	-3.95	----	0.02	0.18	0.16
2040	17.38	13.47	-3.91	----	0.02	0.18	0.16
2041	17.34	13.47	-3.88	----	0.02	0.18	0.16
2042	17.31	13.46	-3.84	----	0.03	0.18	0.16
2043	17.27	13.46	-3.81	----	0.03	0.19	0.16
2044	17.24	13.46	-3.78	----	0.03	0.19	0.15
2045	17.22	13.46	-3.76	----	0.03	0.19	0.15
2046	17.20	13.46	-3.73	----	0.04	0.19	0.15
2047	17.17	13.46	-3.71	----	0.04	0.19	0.15
2048	17.15	13.46	-3.69	----	0.04	0.19	0.15
2049	17.14	13.46	-3.68	----	0.04	0.19	0.15
2050	17.12	13.46	-3.66	----	0.04	0.19	0.14
2051	17.12	13.46	-3.65	----	0.05	0.19	0.14
2052	17.12	13.46	-3.65	----	0.05	0.19	0.14
2053	17.12	13.46	-3.66	----	0.05	0.19	0.14
2054	17.13	13.47	-3.67	----	0.05	0.19	0.14
2055	17.15	13.47	-3.68	----	0.06	0.19	0.13
2056	17.16	13.47	-3.69	----	0.06	0.19	0.13
2057	17.18	13.47	-3.71	----	0.06	0.19	0.13
2058	17.20	13.47	-3.73	----	0.06	0.19	0.13
2059	17.21	13.48	-3.74	----	0.06	0.19	0.13
2060	17.22	13.48	-3.75	----	0.07	0.19	0.13
2061	17.23	13.48	-3.75	----	0.07	0.19	0.12
2062	17.24	13.48	-3.76	----	0.07	0.19	0.12
2063	17.25	13.48	-3.77	----	0.07	0.19	0.12
2064	17.26	13.48	-3.78	----	0.07	0.19	0.12
2065	17.28	13.48	-3.79	----	0.08	0.19	0.12
2066	17.30	13.48	-3.81	----	0.08	0.19	0.12
2067	17.32	13.49	-3.83	----	0.08	0.20	0.12
2068	17.35	13.49	-3.86	----	0.08	0.20	0.11
2069	17.38	13.49	-3.89	----	0.08	0.20	0.11
2070	17.41	13.49	-3.92	----	0.08	0.20	0.11
2071	17.44	13.50	-3.94	----	0.08	0.20	0.11
2072	17.46	13.50	-3.97	----	0.09	0.20	0.11
2073	17.49	13.50	-3.99	----	0.09	0.20	0.11
2074	17.52	13.50	-4.02	----	0.09	0.20	0.11
2075	17.55	13.50	-4.05	----	0.09	0.20	0.11
2076	17.58	13.51	-4.07	----	0.09	0.20	0.11
2077	17.60	13.51	-4.09	----	0.09	0.20	0.11
2078	17.63	13.51	-4.12	----	0.09	0.20	0.11
2079	17.66	13.51	-4.15	----	0.09	0.20	0.11
2080	17.70	13.51	-4.18	----	0.09	0.20	0.11
2081	17.73	13.52	-4.22	----	0.09	0.20	0.11
2082	17.77	13.52	-4.25	----	0.09	0.20	0.11
2083	17.81	13.52	-4.29	----	0.09	0.20	0.11
2084	17.85	13.52	-4.32	----	0.09	0.20	0.11
2085	17.89	13.53	-4.36	----	0.10	0.20	0.11
2086	17.93	13.53	-4.40	----	0.10	0.20	0.10
2087	17.97	13.53	-4.43	----	0.10	0.20	0.10

				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	16.72%	14.18%	-2.54%	2033	0.04%	0.16%	0.13%

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 $400,000 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 $400,000 in 2017, with the threshold wage-indexed after 2020. Provide proportional benefit credit for additional earnings taxed.