Proposed Provision: E1.3. Reduce the payroll tax rate (currently 12.4 percent) to 11.4 percent in 2018 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2017 | 298 | 298 |
2018 | 287 | 287 |
2019 | 273 | 266 |
2020 | 259 | 246 |
2021 | 245 | 226 |
2022 | 230 | 205 |
2023 | 215 | 184 |
2024 | 199 | 163 |
2025 | 182 | 141 |
2026 | 165 | 119 |
2027 | 148 | 96 |
2028 | 130 | 73 |
2029 | 112 | 50 |
2030 | 94 | 27 |
2031 | 75 | 3 |
2032 | 56 | -22 |
2033 | 37 | -48 |
2034 | 16 | -74 |
2035 | -4 | -101 |
2036 | -26 | -129 |
2037 | -47 | -157 |
2038 | -70 | -186 |
2039 | -92 | -215 |
2040 | -115 | -245 |
2041 | -138 | -275 |
2042 | -161 | -306 |
2043 | -184 | -336 |
2044 | -207 | -367 |
2045 | -230 | -398 |
2046 | -253 | -428 |
2047 | -276 | -459 |
2048 | -300 | -490 |
2049 | -323 | -522 |
2050 | -346 | -553 |
2051 | -370 | -584 |
2052 | -393 | -616 |
2053 | -417 | -647 |
2054 | -440 | -678 |
2055 | -464 | -710 |
2056 | -487 | -741 |
2057 | -511 | -773 |
2058 | -536 | -805 |
2059 | -560 | -838 |
2060 | -585 | -871 |
2061 | -611 | -904 |
2062 | -637 | -938 |
2063 | -663 | -973 |
2064 | -690 | -1008 |
2065 | -717 | -1043 |
2066 | -745 | -1079 |
2067 | -772 | -1115 |
2068 | -801 | -1152 |
2069 | -829 | -1188 |
2070 | -858 | -1226 |
2071 | -888 | -1264 |
2072 | -918 | -1303 |
2073 | -949 | -1343 |
2074 | -981 | -1384 |
2075 | -1014 | -1426 |
2076 | -1047 | -1469 |
2077 | -1082 | -1514 |
2078 | -1117 | -1559 |
2079 | -1153 | -1606 |
2080 | -1190 | -1653 |
2081 | -1227 | -1701 |
2082 | -1264 | -1748 |
2083 | -1300 | -1796 |
2084 | -1337 | -1843 |
2085 | -1374 | -1890 |
2086 | -1410 | -1937 |
2087 | -1446 | -1983 |
2088 | -1483 | -2030 |
2089 | -1520 | -2077 |
2090 | -1557 | -2125 |
2091 | -1595 | -2173 |
2092 | -1633 | -2221 |
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