Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200200
2024183183
2025165165
2026149149
2027132132
2028115115
20299898
20308181
20316464
20324646
20332727
203488
2035-11-11
2036-30-30
2037-50-50
2038-71-71
2039-91-91
2040-112-112
2041-133-133
2042-154-154
2043-176-176
2044-197-197
2045-218-218
2046-240-240
2047-262-262
2048-283-285
2049-305-308
2050-327-331
2051-349-354
2052-371-378
2053-393-402
2054-415-426
2055-437-453
2056-460-481
2057-482-509
2058-506-538
2059-529-567
2060-553-596
2061-578-626
2062-603-657
2063-628-688
2064-654-720
2065-680-752
2066-706-784
2067-733-817
2068-760-850
2069-788-884
2070-816-918
2071-845-953
2072-874-988
2073-905-1025
2074-935-1062
2075-967-1100
2076-1000-1140
2077-1033-1180
2078-1068-1221
2079-1102-1263
2080-1138-1305
2081-1173-1348
2082-1208-1390
2083-1243-1433
2084-1279-1475
2085-1314-1517
2086-1349-1559
2087-1384-1602
2088-1419-1644
2089-1455-1687
2090-1491-1731
2091-1528-1775
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