Proposed Provision: F5. Tax Reform for Business: Establish a value added tax (VAT) of 3.0 percent for 2021 and 6.5 percent for 2022 and later. Assume about 75% of personal consumption expenditures is subject to the VAT.
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 | 226 |
| 2023 | 213 | 207 |
| 2024 | 197 | 188 |
| 2025 | 180 | 169 |
| 2026 | 163 | 149 |
| 2027 | 147 | 131 |
| 2028 | 130 | 112 |
| 2029 | 114 | 93 |
| 2030 | 97 | 75 |
| 2031 | 80 | 56 |
| 2032 | 63 | 37 |
| 2033 | 46 | 18 |
| 2034 | 28 | -2 |
| 2035 | 10 | -22 |
| 2036 | -9 | -43 |
| 2037 | -28 | -64 |
| 2038 | -47 | -85 |
| 2039 | -67 | -106 |
| 2040 | -87 | -128 |
| 2041 | -108 | -150 |
| 2042 | -129 | -173 |
| 2043 | -150 | -195 |
| 2044 | -171 | -217 |
| 2045 | -192 | -240 |
| 2046 | -213 | -262 |
| 2047 | -234 | -285 |
| 2048 | -255 | -307 |
| 2049 | -276 | -329 |
| 2050 | -297 | -351 |
| 2051 | -318 | -373 |
| 2052 | -338 | -394 |
| 2053 | -359 | -416 |
| 2054 | -380 | -438 |
| 2055 | -401 | -460 |
| 2056 | -422 | -481 |
| 2057 | -444 | -503 |
| 2058 | -465 | -525 |
| 2059 | -487 | -547 |
| 2060 | -509 | -570 |
| 2061 | -531 | -592 |
| 2062 | -554 | -616 |
| 2063 | -577 | -639 |
| 2064 | -601 | -663 |
| 2065 | -625 | -688 |
| 2066 | -649 | -712 |
| 2067 | -674 | -737 |
| 2068 | -699 | -763 |
| 2069 | -724 | -788 |
| 2070 | -749 | -814 |
| 2071 | -776 | -841 |
| 2072 | -802 | -868 |
| 2073 | -830 | -896 |
| 2074 | -857 | -924 |
| 2075 | -885 | -953 |
| 2076 | -914 | -982 |
| 2077 | -944 | -1012 |
| 2078 | -975 | -1044 |
| 2079 | -1007 | -1076 |
| 2080 | -1039 | -1109 |
| 2081 | -1072 | -1143 |
| 2082 | -1106 | -1177 |
| 2083 | -1139 | -1211 |
| 2084 | -1173 | -1246 |
| 2085 | -1207 | -1281 |
| 2086 | -1242 | -1316 |
| 2087 | -1275 | -1350 |
| 2088 | -1309 | -1384 |
| 2089 | -1342 | -1418 |
| 2090 | -1375 | -1451 |
| 2091 | -1407 | -1484 |
| 2092 | -1439 | -1517 |
| 2093 | -1471 | -1549 |
| 2094 | -1503 | -1582 |
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