Proposed Provision: Eliminate the taxable maximum in years 2016 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

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

Year Present Law Provision
2015308308
2016298298
2017280297
2018264297
2019248297
2020233297
2021219297
2022204296
2023189294
2024173292
2025157290
2026142287
2027126285
2028110283
202994281
203077279
203160277
203242274
203323271
20344267
2035-16264
2036-36260
2037-57256
2038-78252
2039-100248
2040-122245
2041-144241
2042-166238
2043-189235
2044-211232
2045-234229
2046-257226
2047-280223
2048-303220
2049-327218
2050-351215
2051-375212
2052-398209
2053-423206
2054-447202
2055-472198
2056-496194
2057-522190
2058-548185
2059-574180
2060-601175
2061-629169
2062-657164
2063-685157
2064-714151
2065-744144
2066-774137
2067-804130
2068-835122
2069-867114
2070-899105
2071-93296
2072-96587
2073-100078
2074-103568
2075-107258
2076-111048
2077-114838
2078-118828
2079-122817
2080-12687
2081-1309-4
2082-1350-15
2083-1391-26
2084-1432-37
2085-1472-48
2086-1514-60
2087-1555-72
2088-1597-85
2089-1640-97
2090-1683-110
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