Proposed Provision: Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2014, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2013 | 330 | 330 |
2014 | 315 | 315 |
2015 | 301 | 309 |
2016 | 286 | 302 |
2017 | 271 | 296 |
2018 | 257 | 292 |
2019 | 244 | 288 |
2020 | 231 | 284 |
2021 | 218 | 281 |
2022 | 204 | 276 |
2023 | 189 | 271 |
2024 | 173 | 265 |
2025 | 158 | 260 |
2026 | 142 | 254 |
2027 | 125 | 249 |
2028 | 108 | 244 |
2029 | 90 | 238 |
2030 | 71 | 232 |
2031 | 52 | 226 |
2032 | 31 | 220 |
2033 | 11 | 214 |
2034 | -11 | 208 |
2035 | -32 | 201 |
2036 | -55 | 195 |
2037 | -78 | 189 |
2038 | -101 | 183 |
2039 | -124 | 176 |
2040 | -148 | 170 |
2041 | -172 | 165 |
2042 | -196 | 159 |
2043 | -220 | 153 |
2044 | -245 | 148 |
2045 | -269 | 142 |
2046 | -294 | 136 |
2047 | -319 | 131 |
2048 | -345 | 125 |
2049 | -371 | 120 |
2050 | -397 | 114 |
2051 | -423 | 109 |
2052 | -449 | 103 |
2053 | -476 | 97 |
2054 | -502 | 91 |
2055 | -530 | 84 |
2056 | -557 | 78 |
2057 | -585 | 71 |
2058 | -613 | 63 |
2059 | -642 | 56 |
2060 | -671 | 48 |
2061 | -701 | 40 |
2062 | -732 | 31 |
2063 | -763 | 23 |
2064 | -794 | 14 |
2065 | -826 | 4 |
2066 | -859 | -5 |
2067 | -892 | -15 |
2068 | -925 | -25 |
2069 | -959 | -36 |
2070 | -993 | -47 |
2071 | -1028 | -58 |
2072 | -1064 | -69 |
2073 | -1101 | -81 |
2074 | -1139 | -93 |
2075 | -1178 | -105 |
2076 | -1217 | -118 |
2077 | -1258 | -131 |
2078 | -1299 | -144 |
2079 | -1340 | -157 |
2080 | -1382 | -170 |
2081 | -1424 | -184 |
2082 | -1466 | -197 |
2083 | -1508 | -211 |
2084 | -1550 | -225 |
2085 | -1592 | -239 |
2086 | -1635 | -254 |
2087 | -1678 | -269 |
2088 | -1722 | -284 |
back