Description of Proposed Provision:
H1: Starting in 2018, tax Social Security benefits in a manner similar to private pension income. Phase out the lower-income thresholds during 2018-2027.
Estimates based on the intermediate assumptions of the 2017 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||
-2.83 | -4.48 | 0.20 | 0.15 | 7% | 3% |