Proposed Provision: Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2014-2023). Provide benefit credit for earnings up to the revised taxable maximum levels.

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

Year Present Law Provision
2013330330
2014315315
2015301302
2016286288
2017271277
2018257267
2019244257
2020231249
2021218241
2022204232
2023189223
2024173213
2025158203
2026142193
2027125183
2028108172
202990160
203071147
203152134
203231120
203311105
2034-1190
2035-3275
2036-5559
2037-7843
2038-10127
2039-12411
2040-148-6
2041-172-22
2042-196-39
2043-220-56
2044-245-73
2045-269-90
2046-294-107
2047-319-124
2048-345-142
2049-371-160
2050-397-178
2051-423-196
2052-449-215
2053-476-233
2054-502-252
2055-530-271
2056-557-291
2057-585-311
2058-613-332
2059-642-353
2060-671-374
2061-701-396
2062-732-418
2063-763-441
2064-794-464
2065-826-488
2066-859-512
2067-892-537
2068-925-562
2069-959-588
2070-993-614
2071-1028-640
2072-1064-667
2073-1101-695
2074-1139-724
2075-1178-753
2076-1217-784
2077-1258-814
2078-1299-845
2079-1340-877
2080-1382-909
2081-1424-940
2082-1466-972
2083-1508-1005
2084-1550-1037
2085-1592-1069
2086-1635-1102
2087-1678-1136
2088-1722-1169
back