Proposed Provision: Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2016-2025). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2016-2025). Provide benefit credit for earnings taxed up to the revised 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 | 282 |
| 2018 | 264 | 269 |
| 2019 | 248 | 258 |
| 2020 | 233 | 249 |
| 2021 | 219 | 241 |
| 2022 | 204 | 234 |
| 2023 | 189 | 227 |
| 2024 | 173 | 220 |
| 2025 | 157 | 214 |
| 2026 | 142 | 208 |
| 2027 | 126 | 202 |
| 2028 | 110 | 196 |
| 2029 | 94 | 190 |
| 2030 | 77 | 183 |
| 2031 | 60 | 176 |
| 2032 | 42 | 169 |
| 2033 | 23 | 161 |
| 2034 | 4 | 152 |
| 2035 | -16 | 143 |
| 2036 | -36 | 134 |
| 2037 | -57 | 124 |
| 2038 | -78 | 115 |
| 2039 | -100 | 105 |
| 2040 | -122 | 95 |
| 2041 | -144 | 85 |
| 2042 | -166 | 75 |
| 2043 | -189 | 65 |
| 2044 | -211 | 55 |
| 2045 | -234 | 45 |
| 2046 | -257 | 35 |
| 2047 | -280 | 25 |
| 2048 | -303 | 15 |
| 2049 | -327 | 4 |
| 2050 | -351 | -6 |
| 2051 | -375 | -17 |
| 2052 | -398 | -28 |
| 2053 | -423 | -39 |
| 2054 | -447 | -50 |
| 2055 | -472 | -62 |
| 2056 | -496 | -74 |
| 2057 | -522 | -86 |
| 2058 | -548 | -99 |
| 2059 | -574 | -112 |
| 2060 | -601 | -126 |
| 2061 | -629 | -140 |
| 2062 | -657 | -154 |
| 2063 | -685 | -169 |
| 2064 | -714 | -184 |
| 2065 | -744 | -200 |
| 2066 | -774 | -216 |
| 2067 | -804 | -233 |
| 2068 | -835 | -250 |
| 2069 | -867 | -267 |
| 2070 | -899 | -285 |
| 2071 | -932 | -303 |
| 2072 | -965 | -322 |
| 2073 | -1000 | -342 |
| 2074 | -1035 | -362 |
| 2075 | -1072 | -382 |
| 2076 | -1110 | -403 |
| 2077 | -1148 | -425 |
| 2078 | -1188 | -447 |
| 2079 | -1228 | -469 |
| 2080 | -1268 | -492 |
| 2081 | -1309 | -515 |
| 2082 | -1350 | -537 |
| 2083 | -1391 | -561 |
| 2084 | -1432 | -584 |
| 2085 | -1472 | -607 |
| 2086 | -1514 | -631 |
| 2087 | -1555 | -655 |
| 2088 | -1597 | -679 |
| 2089 | -1640 | -704 |
| 2090 | -1683 | -729 |
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