Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2013	13.95	12.69	-1.26	330	0.00	0.00	0.00
2014	14.04	12.83	-1.20	315	0.00	0.00	0.00
2015	13.97	12.86	-1.10	301	0.00	0.00	0.00
2016	13.91	12.88	-1.03	286	0.00	0.00	0.00
2017	13.88	12.90	-0.98	271	0.00	0.00	0.00
2018	13.91	12.93	-0.98	257	0.00	0.00	0.00
2019	14.06	12.95	-1.11	244	0.00	0.00	0.00
2020	14.26	12.97	-1.29	231	0.00	0.00	0.00
2021	14.44	13.16	-1.28	218	0.00	0.17	0.17
2022	14.70	13.20	-1.51	205	0.00	0.17	0.17
2023	14.97	13.22	-1.75	191	0.00	0.17	0.17
2024	15.23	13.23	-2.00	177	0.00	0.17	0.17
2025	15.48	13.25	-2.23	162	0.00	0.17	0.17
2026	15.71	13.26	-2.45	147	0.00	0.17	0.17
2027	15.93	13.27	-2.66	131	0.00	0.17	0.17
2028	16.14	13.29	-2.85	115	0.00	0.18	0.17
2029	16.33	13.30	-3.03	98	0.00	0.18	0.17
2030	16.50	13.31	-3.19	81	0.01	0.18	0.17
2031	16.64	13.32	-3.32	62	0.01	0.18	0.17
2032	16.76	13.32	-3.43	43	0.01	0.18	0.17
2033	16.87	13.33	-3.53	24	0.01	0.18	0.17
2034	16.94	13.34	-3.61	3	0.01	0.18	0.17
2035	16.99	13.34	-3.65	----	0.01	0.18	0.17
2036	17.02	13.34	-3.68	----	0.01	0.18	0.16
2037	17.04	13.35	-3.69	----	0.01	0.18	0.16
2038	17.03	13.35	-3.69	----	0.02	0.18	0.16
2039	17.01	13.35	-3.66	----	0.02	0.18	0.16
2040	16.98	13.35	-3.63	----	0.02	0.18	0.16
2041	16.95	13.35	-3.60	----	0.02	0.18	0.16
2042	16.92	13.35	-3.57	----	0.02	0.18	0.16
2043	16.89	13.35	-3.54	----	0.02	0.18	0.15
2044	16.87	13.35	-3.52	----	0.03	0.18	0.15
2045	16.86	13.35	-3.51	----	0.03	0.18	0.15
2046	16.85	13.35	-3.50	----	0.03	0.18	0.15
2047	16.84	13.35	-3.49	----	0.03	0.18	0.15
2048	16.83	13.35	-3.48	----	0.03	0.18	0.15
2049	16.82	13.35	-3.47	----	0.04	0.18	0.14
2050	16.82	13.35	-3.47	----	0.04	0.18	0.14
2051	16.83	13.35	-3.48	----	0.04	0.18	0.14
2052	16.85	13.36	-3.50	----	0.04	0.18	0.14
2053	16.88	13.36	-3.52	----	0.05	0.18	0.14
2054	16.92	13.36	-3.56	----	0.05	0.18	0.14
2055	16.96	13.36	-3.60	----	0.05	0.18	0.13
2056	17.01	13.37	-3.64	----	0.05	0.18	0.13
2057	17.06	13.37	-3.69	----	0.06	0.18	0.13
2058	17.11	13.37	-3.73	----	0.06	0.18	0.13
2059	17.15	13.38	-3.78	----	0.06	0.19	0.13
2060	17.20	13.38	-3.82	----	0.06	0.19	0.12
2061	17.25	13.38	-3.87	----	0.06	0.19	0.12
2062	17.29	13.39	-3.91	----	0.07	0.19	0.12
2063	17.34	13.39	-3.95	----	0.07	0.19	0.12
2064	17.38	13.39	-3.99	----	0.07	0.19	0.12
2065	17.43	13.40	-4.03	----	0.07	0.19	0.11
2066	17.48	13.40	-4.08	----	0.07	0.19	0.11
2067	17.53	13.40	-4.12	----	0.08	0.19	0.11
2068	17.57	13.41	-4.17	----	0.08	0.19	0.11
2069	17.62	13.41	-4.21	----	0.08	0.19	0.11
2070	17.67	13.41	-4.25	----	0.08	0.19	0.11
2071	17.71	13.41	-4.29	----	0.08	0.19	0.11
2072	17.74	13.42	-4.32	----	0.08	0.19	0.11
2073	17.77	13.42	-4.35	----	0.09	0.19	0.11
2074	17.79	13.42	-4.37	----	0.09	0.19	0.10
2075	17.81	13.42	-4.39	----	0.09	0.19	0.10
2076	17.82	13.42	-4.40	----	0.09	0.19	0.10
2077	17.82	13.42	-4.40	----	0.09	0.19	0.10
2078	17.83	13.42	-4.41	----	0.09	0.19	0.10
2079	17.84	13.42	-4.41	----	0.09	0.19	0.10
2080	17.85	13.42	-4.43	----	0.09	0.19	0.10
2081	17.87	13.43	-4.44	----	0.09	0.19	0.10
2082	17.89	13.43	-4.47	----	0.09	0.19	0.10
2083	17.93	13.43	-4.50	----	0.09	0.19	0.10
2084	17.96	13.43	-4.53	----	0.09	0.19	0.10
2085	18.01	13.43	-4.57	----	0.09	0.19	0.10
2086	18.06	13.44	-4.62	----	0.09	0.19	0.10
2087	18.11	13.44	-4.67	----	0.09	0.19	0.10
2088	18.16	13.44	-4.72	----	0.09	0.19	0.10

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087	16.63%	14.04%	-2.60%	2034	0.04%	0.16%	0.12%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Description of Proposed Provision: Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.