Proposed Provision: E2.1. Eliminate the taxable maximum in years 2020 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2019273273
2020260260
2021245260
2022229260
2023213259
2024197257
2025180254
2026163250
2027147246
2028130242
2029114238
203097234
203180230
203263226
203346223
203428220
203510216
2036-9213
2037-28209
2038-47205
2039-67201
2040-87197
2041-108194
2042-129190
2043-150186
2044-171183
2045-192179
2046-213176
2047-234173
2048-255170
2049-276167
2050-297164
2051-318161
2052-338158
2053-359155
2054-380152
2055-401149
2056-422145
2057-444142
2058-465138
2059-487134
2060-509129
2061-531125
2062-554120
2063-577114
2064-601109
2065-625103
2066-64997
2067-67491
2068-69984
2069-72477
2070-74970
2071-77662
2072-80254
2073-83046
2074-85737
2075-88528
2076-91419
2077-94410
2078-9751
2079-1007-9
2080-1039-18
2081-1072-28
2082-1106-37
2083-1139-47
2084-1173-56
2085-1207-65
2086-1242-75
2087-1275-84
2088-1309-94
2089-1342-103
2090-1375-112
2091-1407-122
2092-1439-132
2093-1471-141
2094-1503-152
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