Proposed Provision: Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2016. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2016, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

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

Year Present Law Provision
2015308308
2016298298
2017280289
2018264281
2019248274
2020233266
2021219260
2022204253
2023189245
2024173237
2025157229
2026142221
2027126213
2028110206
202994198
203077190
203160182
203242173
203323164
20344154
2035-16144
2036-36134
2037-57124
2038-78114
2039-100104
2040-12293
2041-14483
2042-16673
2043-18962
2044-21152
2045-23442
2046-25732
2047-28022
2048-30312
2049-3272
2050-351-8
2051-375-18
2052-398-29
2053-423-39
2054-447-50
2055-472-61
2056-496-72
2057-522-84
2058-548-96
2059-574-109
2060-601-122
2061-629-135
2062-657-149
2063-685-163
2064-714-178
2065-744-193
2066-774-208
2067-804-224
2068-835-240
2069-867-257
2070-899-274
2071-932-292
2072-965-310
2073-1000-329
2074-1035-348
2075-1072-368
2076-1110-388
2077-1148-409
2078-1188-431
2079-1228-452
2080-1268-474
2081-1309-496
2082-1350-519
2083-1391-541
2084-1432-564
2085-1472-586
2086-1514-609
2087-1555-633
2088-1597-657
2089-1640-681
2090-1683-706
back