Proposed Provision: Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2018-2065, and a 3 percent rate for years 2066 and later. 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 |
2015 | 308 | 308 |
2016 | 298 | 298 |
2017 | 280 | 280 |
2018 | 264 | 264 |
2019 | 248 | 251 |
2020 | 233 | 239 |
2021 | 219 | 227 |
2022 | 204 | 214 |
2023 | 189 | 202 |
2024 | 173 | 188 |
2025 | 157 | 175 |
2026 | 142 | 162 |
2027 | 126 | 149 |
2028 | 110 | 135 |
2029 | 94 | 121 |
2030 | 77 | 107 |
2031 | 60 | 92 |
2032 | 42 | 77 |
2033 | 23 | 61 |
2034 | 4 | 44 |
2035 | -16 | 27 |
2036 | -36 | 10 |
2037 | -57 | -8 |
2038 | -78 | -26 |
2039 | -100 | -45 |
2040 | -122 | -64 |
2041 | -144 | -83 |
2042 | -166 | -102 |
2043 | -189 | -121 |
2044 | -211 | -140 |
2045 | -234 | -160 |
2046 | -257 | -179 |
2047 | -280 | -199 |
2048 | -303 | -219 |
2049 | -327 | -239 |
2050 | -351 | -259 |
2051 | -375 | -279 |
2052 | -398 | -300 |
2053 | -423 | -320 |
2054 | -447 | -341 |
2055 | -472 | -362 |
2056 | -496 | -384 |
2057 | -522 | -406 |
2058 | -548 | -428 |
2059 | -574 | -451 |
2060 | -601 | -474 |
2061 | -629 | -498 |
2062 | -657 | -522 |
2063 | -685 | -547 |
2064 | -714 | -572 |
2065 | -744 | -598 |
2066 | -774 | -624 |
2067 | -804 | -649 |
2068 | -835 | -675 |
2069 | -867 | -702 |
2070 | -899 | -729 |
2071 | -932 | -756 |
2072 | -965 | -785 |
2073 | -1000 | -814 |
2074 | -1035 | -844 |
2075 | -1072 | -875 |
2076 | -1110 | -906 |
2077 | -1148 | -939 |
2078 | -1188 | -972 |
2079 | -1228 | -1006 |
2080 | -1268 | -1040 |
2081 | -1309 | -1074 |
2082 | -1350 | -1109 |
2083 | -1391 | -1143 |
2084 | -1432 | -1178 |
2085 | -1472 | -1212 |
2086 | -1514 | -1247 |
2087 | -1555 | -1282 |
2088 | -1597 | -1318 |
2089 | -1640 | -1354 |
2090 | -1683 | -1391 |
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