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
2019273273
2020260260
2021245245
2022229229
2023213213
2024197197
2025180180
2026163163
2027147147
2028130130
2029114114
20309797
20318080
20326363
20334662
20342862
20351061
2036-959
2037-2857
2038-4755
2039-6753
2040-8751
2041-10849
2042-12946
2043-15044
2044-17142
2045-19240
2046-21338
2047-23437
2048-25535
2049-27634
2050-29733
2051-31832
2052-33831
2053-35930
2054-38029
2055-40128
2056-42227
2057-44425
2058-46523
2059-48722
2060-50919
2061-53117
2062-55414
2063-57727
2064-60140
2065-62553
2066-64966
2067-67478
2068-69990
2069-724102
2070-749114
2071-776125
2072-802136
2073-830147
2074-857158
2075-885168
2076-914179
2077-944190
2078-975201
2079-1007212
2080-1039223
2081-1072235
2082-1106247
2083-1139259
2084-1173271
2085-1207284
2086-1242297
2087-1275310
2088-1309323
2089-1342337
2090-1375350
2091-1407362
2092-1439375
2093-1471387
2094-1503400
back