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Summary Measures and Graphs

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2019-2042, until the rate reaches 14.8 percent in 2042. Then increase the payroll tax rate an additional 0.1 percentage point in each year from 2081-2085, until the rate reaches 15.3 percent for 2085 and later.

Estimates based on the intermediate assumptions of the 2015 Trustees Report

Summary Measures
Present Law
[percent of payroll]
Change from present law
[percent of payroll]
Shortfall Eliminated
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
-2.68 -4.65 1.74 2.85 65% 61%


graph of OASDI cost rates and income rates by year, under
                 present law and provision. click on graph to view underlying
                 data. graph of OASDI trust fund ratio by year, under present law
                 and provision. click on graph to view underlying data.
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Last reviewed or modified September 14, 2015