Proposed Provision: Apply the following payroll tax rates above the current-law taxable maximum: 2.0 percent in 2016, 3.0 percent in 2029, 3.5 percent in 2044, 4.5 percent in 2054, and 5.5 percent in 2064 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

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

Year Present Law Provision
2013330330
2014315315
2015301301
2016286286
2017271274
2018257263
2019244252
2020231242
2021218231
2022204219
2023189207
2024173194
2025158181
2026142167
2027125153
2028108138
202990122
203071107
20315292
20323175
20331158
2034-1141
2035-3223
2036-555
2037-78-14
2038-101-33
2039-124-52
2040-148-71
2041-172-90
2042-196-110
2043-220-129
2044-245-149
2045-269-168
2046-294-188
2047-319-207
2048-345-227
2049-371-247
2050-397-268
2051-423-288
2052-449-308
2053-476-329
2054-502-350
2055-530-370
2056-557-390
2057-585-411
2058-613-432
2059-642-454
2060-671-476
2061-701-499
2062-732-522
2063-763-545
2064-794-569
2065-826-592
2066-859-616
2067-892-640
2068-925-664
2069-959-689
2070-993-714
2071-1028-740
2072-1064-767
2073-1101-794
2074-1139-822
2075-1178-850
2076-1217-880
2077-1258-909
2078-1299-940
2079-1340-971
2080-1382-1001
2081-1424-1032
2082-1466-1063
2083-1508-1095
2084-1550-1126
2085-1592-1157
2086-1635-1189
2087-1678-1221
2088-1722-1254
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