Proposed Provision: E1.8. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2022-2027, until the rate reaches 13.0 percent for 2027 and later.

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

Year Current Law Provision
2019273273
2020260260
2021245245
2022229229
2023213214
2024197199
2025180184
2026163169
2027147156
2028130143
2029114129
203097116
203180103
20326389
20334675
20342861
20351046
2036-931
2037-2816
2038-470
2039-67-16
2040-87-32
2041-108-49
2042-129-66
2043-150-83
2044-171-99
2045-192-116
2046-213-133
2047-234-150
2048-255-167
2049-276-183
2050-297-200
2051-318-217
2052-338-233
2053-359-250
2054-380-267
2055-401-283
2056-422-300
2057-444-317
2058-465-334
2059-487-352
2060-509-370
2061-531-388
2062-554-406
2063-577-425
2064-601-445
2065-625-464
2066-649-484
2067-674-505
2068-699-525
2069-724-546
2070-749-567
2071-776-589
2072-802-611
2073-830-634
2074-857-657
2075-885-681
2076-914-705
2077-944-730
2078-975-756
2079-1007-782
2080-1039-809
2081-1072-836
2082-1106-864
2083-1139-892
2084-1173-920
2085-1207-949
2086-1242-977
2087-1275-1005
2088-1309-1033
2089-1342-1060
2090-1375-1087
2091-1407-1114
2092-1439-1141
2093-1471-1168
2094-1503-1194
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