Proposed Provision: Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2020 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2020, based on changes in the SSA average wage index.
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 | 271 |
| 2018 | 257 | 257 |
| 2019 | 244 | 244 |
| 2020 | 231 | 231 |
| 2021 | 218 | 218 |
| 2022 | 204 | 204 |
| 2023 | 189 | 190 |
| 2024 | 173 | 175 |
| 2025 | 158 | 160 |
| 2026 | 142 | 145 |
| 2027 | 125 | 129 |
| 2028 | 108 | 113 |
| 2029 | 90 | 96 |
| 2030 | 71 | 78 |
| 2031 | 52 | 60 |
| 2032 | 31 | 41 |
| 2033 | 11 | 22 |
| 2034 | -11 | 2 |
| 2035 | -32 | -19 |
| 2036 | -55 | -39 |
| 2037 | -78 | -60 |
| 2038 | -101 | -82 |
| 2039 | -124 | -104 |
| 2040 | -148 | -126 |
| 2041 | -172 | -148 |
| 2042 | -196 | -170 |
| 2043 | -220 | -192 |
| 2044 | -245 | -215 |
| 2045 | -269 | -238 |
| 2046 | -294 | -260 |
| 2047 | -319 | -283 |
| 2048 | -345 | -307 |
| 2049 | -371 | -330 |
| 2050 | -397 | -354 |
| 2051 | -423 | -378 |
| 2052 | -449 | -402 |
| 2053 | -476 | -426 |
| 2054 | -502 | -451 |
| 2055 | -530 | -476 |
| 2056 | -557 | -501 |
| 2057 | -585 | -526 |
| 2058 | -613 | -552 |
| 2059 | -642 | -579 |
| 2060 | -671 | -606 |
| 2061 | -701 | -633 |
| 2062 | -732 | -661 |
| 2063 | -763 | -689 |
| 2064 | -794 | -718 |
| 2065 | -826 | -748 |
| 2066 | -859 | -777 |
| 2067 | -892 | -808 |
| 2068 | -925 | -838 |
| 2069 | -959 | -870 |
| 2070 | -993 | -901 |
| 2071 | -1028 | -934 |
| 2072 | -1064 | -967 |
| 2073 | -1101 | -1001 |
| 2074 | -1139 | -1036 |
| 2075 | -1178 | -1072 |
| 2076 | -1217 | -1108 |
| 2077 | -1258 | -1146 |
| 2078 | -1299 | -1183 |
| 2079 | -1340 | -1222 |
| 2080 | -1382 | -1260 |
| 2081 | -1424 | -1299 |
| 2082 | -1466 | -1338 |
| 2083 | -1508 | -1376 |
| 2084 | -1550 | -1415 |
| 2085 | -1592 | -1454 |
| 2086 | -1635 | -1494 |
| 2087 | -1678 | -1534 |
| 2088 | -1722 | -1574 |
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