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Detailed Single Year Tables
Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
E3.10: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

 

Financial Estimates for the OASDI Trust Fund Program
 
  Proposal
   Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

 Trust fund
ratio as of
January 1		 Expressed as a percentage of
present-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance
Cost
rate		 Income
rate		 Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.29-1.73
183
0.000.200.20
202515.2813.32-1.97
167
0.000.210.21
202615.4713.33-2.14
151
0.000.210.21
202715.6513.35-2.30
136
0.000.210.21
202815.8113.36-2.45
120
0.000.210.21
202915.9713.38-2.59
104
0.000.210.20
203016.1013.39-2.72
88
0.000.210.20
203116.2313.40-2.83
72
0.000.210.20
203216.3313.41-2.92
56
0.000.210.20
203316.4113.41-3.00
39
0.010.210.20
203416.4713.42-3.05
21
0.010.210.20
203516.5013.42-3.08
3
0.010.210.20
203616.5713.43-3.14
----
0.010.210.20
203716.6113.43-3.18
----
0.010.210.20
203816.6313.44-3.19
----
0.010.210.20
203916.6313.44-3.19
----
0.020.210.19
204016.6113.44-3.17
----
0.020.210.19
204116.5813.44-3.14
----
0.020.210.19
204216.5513.44-3.11
----
0.020.210.19
204316.5213.44-3.08
----
0.020.210.19
204416.4913.44-3.05
----
0.020.210.19
204516.4813.44-3.03
----
0.030.210.18
204616.4513.44-3.01
----
0.030.210.18
204716.4313.44-2.99
----
0.030.210.18
204816.4213.44-2.98
----
0.030.210.18
204916.4013.44-2.96
----
0.040.210.18
205016.4013.44-2.95
----
0.040.210.17
205116.4013.45-2.95
----
0.040.210.17
205216.4113.45-2.97
----
0.040.210.17
205316.4413.45-2.99
----
0.050.210.17
205416.4713.45-3.02
----
0.050.210.17
205516.5113.46-3.06
----
0.050.210.16
205616.5613.46-3.10
----
0.050.210.16
205716.6113.47-3.15
----
0.060.210.16
205816.6713.47-3.20
----
0.060.220.16
205916.7213.47-3.24
----
0.060.220.15
206016.7713.48-3.29
----
0.060.220.15
206116.8213.48-3.34
----
0.070.220.15
206216.8813.49-3.39
----
0.070.220.15
206316.9313.49-3.44
----
0.070.220.14
206416.9813.49-3.49
----
0.080.220.14
206517.0313.50-3.54
----
0.080.220.14
206617.0913.50-3.59
----
0.080.220.14
206717.1413.51-3.64
----
0.080.220.14
206817.2013.51-3.69
----
0.080.220.13
206917.2513.51-3.74
----
0.090.220.13
207017.3113.52-3.79
----
0.090.220.13
207117.3613.52-3.83
----
0.090.220.13
207217.4013.52-3.87
----
0.090.220.13
207317.4313.53-3.91
----
0.090.220.13
207417.4713.53-3.94
----
0.100.220.13
207517.4913.53-3.96
----
0.100.220.12
207617.5013.53-3.97
----
0.100.220.12
207717.5113.53-3.98
----
0.100.220.12
207817.5113.53-3.98
----
0.100.220.12
207917.5113.53-3.97
----
0.100.220.12
208017.5013.53-3.97
----
0.100.220.12
208117.5013.53-3.97
----
0.100.220.12
208217.5113.54-3.97
----
0.100.220.12
208317.5213.54-3.99
----
0.100.220.12
208417.5413.54-4.01
----
0.100.220.12
208517.5713.54-4.03
----
0.110.220.12
208617.6113.54-4.07
----
0.110.220.12
208717.6513.54-4.11
----
0.110.220.12
208817.6913.55-4.15
----
0.110.220.12
208917.7413.55-4.19
----
0.110.220.12
209017.7813.55-4.23
----
0.110.230.12
209117.8313.56-4.27
----
0.110.230.12



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 16.55% 14.03% -2.51%
2035
0.04% 0.19% 0.14%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016