Proposed Provision: E1.9. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2022-2045, until the rate reaches 14.8 percent in 2045. Then increase the payroll tax rate an additional 0.1 percentage point in each year from 2084-2088, until the rate reaches 15.3 percent for 2088 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2018 | 288 | 288 |
2019 | 272 | 272 |
2020 | 256 | 256 |
2021 | 239 | 239 |
2022 | 223 | 223 |
2023 | 206 | 206 |
2024 | 188 | 190 |
2025 | 171 | 175 |
2026 | 154 | 160 |
2027 | 137 | 146 |
2028 | 120 | 133 |
2029 | 104 | 120 |
2030 | 86 | 107 |
2031 | 69 | 95 |
2032 | 51 | 82 |
2033 | 33 | 70 |
2034 | 14 | 59 |
2035 | -5 | 47 |
2036 | -25 | 35 |
2037 | -46 | 23 |
2038 | -67 | 12 |
2039 | -88 | 1 |
2040 | -110 | -10 |
2041 | -132 | -20 |
2042 | -154 | -30 |
2043 | -176 | -39 |
2044 | -199 | -48 |
2045 | -221 | -55 |
2046 | -244 | -63 |
2047 | -267 | -69 |
2048 | -289 | -76 |
2049 | -312 | -83 |
2050 | -335 | -90 |
2051 | -358 | -97 |
2052 | -381 | -103 |
2053 | -403 | -110 |
2054 | -426 | -117 |
2055 | -450 | -123 |
2056 | -473 | -130 |
2057 | -496 | -137 |
2058 | -520 | -145 |
2059 | -544 | -152 |
2060 | -569 | -160 |
2061 | -594 | -168 |
2062 | -619 | -177 |
2063 | -645 | -186 |
2064 | -671 | -195 |
2065 | -698 | -204 |
2066 | -725 | -214 |
2067 | -752 | -224 |
2068 | -780 | -235 |
2069 | -808 | -245 |
2070 | -837 | -256 |
2071 | -866 | -268 |
2072 | -896 | -280 |
2073 | -927 | -292 |
2074 | -958 | -305 |
2075 | -990 | -318 |
2076 | -1023 | -331 |
2077 | -1057 | -345 |
2078 | -1092 | -360 |
2079 | -1128 | -374 |
2080 | -1165 | -389 |
2081 | -1202 | -404 |
2082 | -1240 | -420 |
2083 | -1278 | -435 |
2084 | -1316 | -450 |
2085 | -1354 | -465 |
2086 | -1392 | -479 |
2087 | -1430 | -493 |
2088 | -1468 | -506 |
2089 | -1505 | -518 |
2090 | -1543 | -530 |
2091 | -1580 | -543 |
2092 | -1618 | -555 |
2093 | -1655 | -568 |
back