Proposed Provision: E2.6. Apply a 3 percent payroll tax on earnings above the current-law taxable maximum starting in 2020. 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 |
2019 | 273 | 273 |
2020 | 260 | 260 |
2021 | 245 | 249 |
2022 | 229 | 237 |
2023 | 213 | 225 |
2024 | 197 | 212 |
2025 | 180 | 199 |
2026 | 163 | 186 |
2027 | 147 | 172 |
2028 | 130 | 159 |
2029 | 114 | 146 |
2030 | 97 | 132 |
2031 | 80 | 119 |
2032 | 63 | 105 |
2033 | 46 | 91 |
2034 | 28 | 77 |
2035 | 10 | 63 |
2036 | -9 | 48 |
2037 | -28 | 33 |
2038 | -47 | 18 |
2039 | -67 | 2 |
2040 | -87 | -14 |
2041 | -108 | -30 |
2042 | -129 | -47 |
2043 | -150 | -63 |
2044 | -171 | -80 |
2045 | -192 | -96 |
2046 | -213 | -113 |
2047 | -234 | -129 |
2048 | -255 | -145 |
2049 | -276 | -162 |
2050 | -297 | -178 |
2051 | -318 | -194 |
2052 | -338 | -211 |
2053 | -359 | -227 |
2054 | -380 | -243 |
2055 | -401 | -260 |
2056 | -422 | -276 |
2057 | -444 | -293 |
2058 | -465 | -310 |
2059 | -487 | -327 |
2060 | -509 | -345 |
2061 | -531 | -362 |
2062 | -554 | -381 |
2063 | -577 | -399 |
2064 | -601 | -418 |
2065 | -625 | -437 |
2066 | -649 | -457 |
2067 | -674 | -477 |
2068 | -699 | -497 |
2069 | -724 | -518 |
2070 | -749 | -539 |
2071 | -776 | -560 |
2072 | -802 | -582 |
2073 | -830 | -604 |
2074 | -857 | -627 |
2075 | -885 | -650 |
2076 | -914 | -674 |
2077 | -944 | -699 |
2078 | -975 | -724 |
2079 | -1007 | -750 |
2080 | -1039 | -777 |
2081 | -1072 | -804 |
2082 | -1106 | -831 |
2083 | -1139 | -858 |
2084 | -1173 | -886 |
2085 | -1207 | -914 |
2086 | -1242 | -941 |
2087 | -1275 | -969 |
2088 | -1309 | -996 |
2089 | -1342 | -1023 |
2090 | -1375 | -1050 |
2091 | -1407 | -1077 |
2092 | -1439 | -1103 |
2093 | -1471 | -1129 |
2094 | -1503 | -1155 |
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