Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2025-2044, until the rate reaches 14.4 percent in 2044 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2019 | 273 | 273 |
| 2020 | 260 | 260 |
| 2021 | 245 | 245 |
| 2022 | 229 | 229 |
| 2023 | 213 | 213 |
| 2024 | 197 | 197 |
| 2025 | 180 | 180 |
| 2026 | 163 | 164 |
| 2027 | 147 | 149 |
| 2028 | 130 | 134 |
| 2029 | 114 | 120 |
| 2030 | 97 | 106 |
| 2031 | 80 | 92 |
| 2032 | 63 | 79 |
| 2033 | 46 | 66 |
| 2034 | 28 | 54 |
| 2035 | 10 | 42 |
| 2036 | -9 | 29 |
| 2037 | -28 | 17 |
| 2038 | -47 | 6 |
| 2039 | -67 | -6 |
| 2040 | -87 | -17 |
| 2041 | -108 | -28 |
| 2042 | -129 | -38 |
| 2043 | -150 | -48 |
| 2044 | -171 | -57 |
| 2045 | -192 | -66 |
| 2046 | -213 | -74 |
| 2047 | -234 | -83 |
| 2048 | -255 | -91 |
| 2049 | -276 | -99 |
| 2050 | -297 | -107 |
| 2051 | -318 | -115 |
| 2052 | -338 | -122 |
| 2053 | -359 | -130 |
| 2054 | -380 | -138 |
| 2055 | -401 | -146 |
| 2056 | -422 | -154 |
| 2057 | -444 | -162 |
| 2058 | -465 | -171 |
| 2059 | -487 | -179 |
| 2060 | -509 | -188 |
| 2061 | -531 | -198 |
| 2062 | -554 | -207 |
| 2063 | -577 | -217 |
| 2064 | -601 | -227 |
| 2065 | -625 | -238 |
| 2066 | -649 | -248 |
| 2067 | -674 | -260 |
| 2068 | -699 | -271 |
| 2069 | -724 | -283 |
| 2070 | -749 | -295 |
| 2071 | -776 | -307 |
| 2072 | -802 | -320 |
| 2073 | -830 | -333 |
| 2074 | -857 | -347 |
| 2075 | -885 | -361 |
| 2076 | -914 | -375 |
| 2077 | -944 | -390 |
| 2078 | -975 | -405 |
| 2079 | -1007 | -421 |
| 2080 | -1039 | -437 |
| 2081 | -1072 | -453 |
| 2082 | -1106 | -469 |
| 2083 | -1139 | -486 |
| 2084 | -1173 | -502 |
| 2085 | -1207 | -519 |
| 2086 | -1242 | -535 |
| 2087 | -1275 | -551 |
| 2088 | -1309 | -567 |
| 2089 | -1342 | -583 |
| 2090 | -1375 | -599 |
| 2091 | -1407 | -615 |
| 2092 | -1439 | -630 |
| 2093 | -1471 | -646 |
| 2094 | -1503 | -662 |
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