Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2020-2025). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".
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 | 241 |
| 2022 | 223 | 227 |
| 2023 | 206 | 214 |
| 2024 | 188 | 201 |
| 2025 | 171 | 190 |
| 2026 | 154 | 179 |
| 2027 | 137 | 168 |
| 2028 | 120 | 157 |
| 2029 | 104 | 146 |
| 2030 | 86 | 135 |
| 2031 | 69 | 123 |
| 2032 | 51 | 111 |
| 2033 | 33 | 99 |
| 2034 | 14 | 87 |
| 2035 | -5 | 74 |
| 2036 | -25 | 61 |
| 2037 | -46 | 47 |
| 2038 | -67 | 33 |
| 2039 | -88 | 19 |
| 2040 | -110 | 4 |
| 2041 | -132 | -11 |
| 2042 | -154 | -25 |
| 2043 | -176 | -40 |
| 2044 | -199 | -55 |
| 2045 | -221 | -69 |
| 2046 | -244 | -84 |
| 2047 | -267 | -99 |
| 2048 | -289 | -114 |
| 2049 | -312 | -128 |
| 2050 | -335 | -143 |
| 2051 | -358 | -158 |
| 2052 | -381 | -172 |
| 2053 | -403 | -187 |
| 2054 | -426 | -202 |
| 2055 | -450 | -217 |
| 2056 | -473 | -232 |
| 2057 | -496 | -248 |
| 2058 | -520 | -264 |
| 2059 | -544 | -280 |
| 2060 | -569 | -296 |
| 2061 | -594 | -313 |
| 2062 | -619 | -330 |
| 2063 | -645 | -347 |
| 2064 | -671 | -365 |
| 2065 | -698 | -384 |
| 2066 | -725 | -402 |
| 2067 | -752 | -421 |
| 2068 | -780 | -441 |
| 2069 | -808 | -460 |
| 2070 | -837 | -480 |
| 2071 | -866 | -501 |
| 2072 | -896 | -522 |
| 2073 | -927 | -544 |
| 2074 | -958 | -566 |
| 2075 | -990 | -589 |
| 2076 | -1023 | -612 |
| 2077 | -1057 | -636 |
| 2078 | -1092 | -661 |
| 2079 | -1128 | -686 |
| 2080 | -1165 | -712 |
| 2081 | -1202 | -738 |
| 2082 | -1240 | -765 |
| 2083 | -1278 | -791 |
| 2084 | -1316 | -818 |
| 2085 | -1354 | -845 |
| 2086 | -1392 | -871 |
| 2087 | -1430 | -898 |
| 2088 | -1468 | -925 |
| 2089 | -1505 | -951 |
| 2090 | -1543 | -978 |
| 2091 | -1580 | -1004 |
| 2092 | -1618 | -1031 |
| 2093 | -1655 | -1058 |
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