Proposed Provision: E1.2. Increase the payroll tax rate (currently 12.4 percent) to 15.4 percent in 2032-2061, and to 18.4 percent in years 2062 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 | 163 |
2027 | 147 | 147 |
2028 | 130 | 130 |
2029 | 114 | 114 |
2030 | 97 | 97 |
2031 | 80 | 80 |
2032 | 63 | 63 |
2033 | 46 | 62 |
2034 | 28 | 62 |
2035 | 10 | 61 |
2036 | -9 | 59 |
2037 | -28 | 57 |
2038 | -47 | 55 |
2039 | -67 | 53 |
2040 | -87 | 51 |
2041 | -108 | 49 |
2042 | -129 | 46 |
2043 | -150 | 44 |
2044 | -171 | 42 |
2045 | -192 | 40 |
2046 | -213 | 38 |
2047 | -234 | 37 |
2048 | -255 | 35 |
2049 | -276 | 34 |
2050 | -297 | 33 |
2051 | -318 | 32 |
2052 | -338 | 31 |
2053 | -359 | 30 |
2054 | -380 | 29 |
2055 | -401 | 28 |
2056 | -422 | 27 |
2057 | -444 | 25 |
2058 | -465 | 23 |
2059 | -487 | 22 |
2060 | -509 | 19 |
2061 | -531 | 17 |
2062 | -554 | 14 |
2063 | -577 | 27 |
2064 | -601 | 40 |
2065 | -625 | 53 |
2066 | -649 | 66 |
2067 | -674 | 78 |
2068 | -699 | 90 |
2069 | -724 | 102 |
2070 | -749 | 114 |
2071 | -776 | 125 |
2072 | -802 | 136 |
2073 | -830 | 147 |
2074 | -857 | 158 |
2075 | -885 | 168 |
2076 | -914 | 179 |
2077 | -944 | 190 |
2078 | -975 | 201 |
2079 | -1007 | 212 |
2080 | -1039 | 223 |
2081 | -1072 | 235 |
2082 | -1106 | 247 |
2083 | -1139 | 259 |
2084 | -1173 | 271 |
2085 | -1207 | 284 |
2086 | -1242 | 297 |
2087 | -1275 | 310 |
2088 | -1309 | 323 |
2089 | -1342 | 337 |
2090 | -1375 | 350 |
2091 | -1407 | 362 |
2092 | -1439 | 375 |
2093 | -1471 | 387 |
2094 | -1503 | 400 |
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