Proposed Provision: Starting in 2014, allow workers to choose whether to have their payroll tax rate reduced by 2 percentage points. For each calendar year that a worker chooses to have their payroll tax reduced, their NRA increases 1 month. We assume 2/3 of workers each year will choose this payroll reduction. The General Fund of the Treasury reimburses the OASI and DI Trust Funds for the reduction in payroll tax revenue.

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

Year Present Law Provision
2013330330
2014315315
2015301301
2016286286
2017271271
2018257257
2019244244
2020231231
2021218218
2022204204
2023189189
2024173174
2025158158
2026142142
2027125125
2028108108
20299091
20307172
20315253
20323133
20331113
2034-11-8
2035-32-30
2036-55-51
2037-78-73
2038-101-96
2039-124-118
2040-148-141
2041-172-164
2042-196-187
2043-220-210
2044-245-233
2045-269-257
2046-294-280
2047-319-303
2048-345-327
2049-371-351
2050-397-375
2051-423-399
2052-449-423
2053-476-446
2054-502-470
2055-530-494
2056-557-518
2057-585-542
2058-613-566
2059-642-590
2060-671-615
2061-701-639
2062-732-665
2063-763-690
2064-794-716
2065-826-742
2066-859-768
2067-892-795
2068-925-822
2069-959-849
2070-993-877
2071-1028-905
2072-1064-934
2073-1101-964
2074-1139-995
2075-1178-1026
2076-1217-1058
2077-1258-1091
2078-1299-1124
2079-1340-1157
2080-1382-1191
2081-1424-1224
2082-1466-1257
2083-1508-1290
2084-1550-1324
2085-1592-1357
2086-1635-1391
2087-1678-1426
2088-1722-1461
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