Proposed Provision: Beginning in 2023, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2023. Do not provide benefit credit for additional earnings taxed.

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

Year Present Law Provision
2015308308
2016298298
2017280280
2018264264
2019248248
2020233233
2021219219
2022204204
2023189189
2024173174
2025157160
2026142145
2027126130
2028110115
202994100
20307785
20316068
20324251
20332333
2034415
2035-16-3
2036-36-23
2037-57-42
2038-78-62
2039-100-82
2040-122-103
2041-144-124
2042-166-145
2043-189-166
2044-211-187
2045-234-209
2046-257-231
2047-280-252
2048-303-274
2049-327-297
2050-351-319
2051-375-341
2052-398-364
2053-423-386
2054-447-409
2055-472-433
2056-496-456
2057-522-480
2058-548-505
2059-574-530
2060-601-555
2061-629-581
2062-657-608
2063-685-635
2064-714-662
2065-744-690
2066-774-719
2067-804-747
2068-835-777
2069-867-807
2070-899-837
2071-932-868
2072-965-901
2073-1000-933
2074-1035-967
2075-1072-1002
2076-1110-1038
2077-1148-1075
2078-1188-1112
2079-1228-1150
2080-1268-1189
2081-1309-1227
2082-1350-1266
2083-1391-1305
2084-1432-1344
2085-1472-1383
2086-1514-1422
2087-1555-1461
2088-1597-1501
2089-1640-1542
2090-1683-1583
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