Proposed Provision: Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2014-2023). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2014-2023). Provide benefit credit on earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2013 | 330 | 330 |
| 2014 | 315 | 315 |
| 2015 | 301 | 302 |
| 2016 | 286 | 290 |
| 2017 | 271 | 281 |
| 2018 | 257 | 273 |
| 2019 | 244 | 267 |
| 2020 | 231 | 261 |
| 2021 | 218 | 256 |
| 2022 | 204 | 251 |
| 2023 | 189 | 246 |
| 2024 | 173 | 240 |
| 2025 | 158 | 234 |
| 2026 | 142 | 228 |
| 2027 | 125 | 221 |
| 2028 | 108 | 214 |
| 2029 | 90 | 206 |
| 2030 | 71 | 198 |
| 2031 | 52 | 188 |
| 2032 | 31 | 179 |
| 2033 | 11 | 168 |
| 2034 | -11 | 158 |
| 2035 | -32 | 147 |
| 2036 | -55 | 135 |
| 2037 | -78 | 124 |
| 2038 | -101 | 113 |
| 2039 | -124 | 101 |
| 2040 | -148 | 90 |
| 2041 | -172 | 78 |
| 2042 | -196 | 66 |
| 2043 | -220 | 55 |
| 2044 | -245 | 43 |
| 2045 | -269 | 32 |
| 2046 | -294 | 20 |
| 2047 | -319 | 8 |
| 2048 | -345 | -4 |
| 2049 | -371 | -17 |
| 2050 | -397 | -29 |
| 2051 | -423 | -41 |
| 2052 | -449 | -54 |
| 2053 | -476 | -67 |
| 2054 | -502 | -80 |
| 2055 | -530 | -94 |
| 2056 | -557 | -108 |
| 2057 | -585 | -122 |
| 2058 | -613 | -137 |
| 2059 | -642 | -152 |
| 2060 | -671 | -167 |
| 2061 | -701 | -183 |
| 2062 | -732 | -199 |
| 2063 | -763 | -216 |
| 2064 | -794 | -233 |
| 2065 | -826 | -251 |
| 2066 | -859 | -268 |
| 2067 | -892 | -287 |
| 2068 | -925 | -305 |
| 2069 | -959 | -324 |
| 2070 | -993 | -344 |
| 2071 | -1028 | -364 |
| 2072 | -1064 | -384 |
| 2073 | -1101 | -405 |
| 2074 | -1139 | -427 |
| 2075 | -1178 | -449 |
| 2076 | -1217 | -471 |
| 2077 | -1258 | -494 |
| 2078 | -1299 | -517 |
| 2079 | -1340 | -541 |
| 2080 | -1382 | -564 |
| 2081 | -1424 | -588 |
| 2082 | -1466 | -612 |
| 2083 | -1508 | -637 |
| 2084 | -1550 | -661 |
| 2085 | -1592 | -686 |
| 2086 | -1635 | -711 |
| 2087 | -1678 | -736 |
| 2088 | -1722 | -762 |
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