Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2016-2021, until the rate reaches 13.0 percent for 2021 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2013 | 330 | 330 |
2014 | 315 | 315 |
2015 | 301 | 301 |
2016 | 286 | 286 |
2017 | 271 | 272 |
2018 | 257 | 259 |
2019 | 244 | 248 |
2020 | 231 | 237 |
2021 | 218 | 227 |
2022 | 204 | 216 |
2023 | 189 | 205 |
2024 | 173 | 193 |
2025 | 158 | 181 |
2026 | 142 | 168 |
2027 | 125 | 155 |
2028 | 108 | 142 |
2029 | 90 | 127 |
2030 | 71 | 112 |
2031 | 52 | 96 |
2032 | 31 | 80 |
2033 | 11 | 63 |
2034 | -11 | 45 |
2035 | -32 | 27 |
2036 | -55 | 9 |
2037 | -78 | -10 |
2038 | -101 | -29 |
2039 | -124 | -48 |
2040 | -148 | -67 |
2041 | -172 | -87 |
2042 | -196 | -106 |
2043 | -220 | -126 |
2044 | -245 | -146 |
2045 | -269 | -166 |
2046 | -294 | -186 |
2047 | -319 | -206 |
2048 | -345 | -227 |
2049 | -371 | -248 |
2050 | -397 | -269 |
2051 | -423 | -290 |
2052 | -449 | -311 |
2053 | -476 | -332 |
2054 | -502 | -354 |
2055 | -530 | -376 |
2056 | -557 | -398 |
2057 | -585 | -421 |
2058 | -613 | -444 |
2059 | -642 | -468 |
2060 | -671 | -492 |
2061 | -701 | -517 |
2062 | -732 | -542 |
2063 | -763 | -567 |
2064 | -794 | -593 |
2065 | -826 | -620 |
2066 | -859 | -646 |
2067 | -892 | -674 |
2068 | -925 | -701 |
2069 | -959 | -729 |
2070 | -993 | -758 |
2071 | -1028 | -787 |
2072 | -1064 | -817 |
2073 | -1101 | -848 |
2074 | -1139 | -879 |
2075 | -1178 | -912 |
2076 | -1217 | -945 |
2077 | -1258 | -978 |
2078 | -1299 | -1013 |
2079 | -1340 | -1047 |
2080 | -1382 | -1082 |
2081 | -1424 | -1117 |
2082 | -1466 | -1152 |
2083 | -1508 | -1187 |
2084 | -1550 | -1222 |
2085 | -1592 | -1257 |
2086 | -1635 | -1293 |
2087 | -1678 | -1329 |
2088 | -1722 | -1366 |
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