Detailed Single Year Tables
Description of Proposed Provision:
H4: Increase the threshold for taxation of OASDI benefits to $50,000 for single filers and $100,000 for joint filers starting in 2021. Taxation of benefits revenues transferred to the Hospital Insurance (HI) Trust Fund would be the same as if the current-law computation applied.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.09 | 12.71 | -1.38 | 245 | 0.00 | -0.18 | -0.18 | ||
| 2022 | 14.23 | 12.74 | -1.49 | 228 | 0.00 | -0.18 | -0.18 | ||
| 2023 | 14.40 | 12.76 | -1.64 | 211 | 0.00 | -0.18 | -0.18 | ||
| 2024 | 14.59 | 12.79 | -1.80 | 193 | 0.00 | -0.18 | -0.18 | ||
| 2025 | 14.79 | 12.81 | -1.98 | 176 | 0.00 | -0.18 | -0.18 | ||
| 2026 | 14.99 | 12.90 | -2.09 | 158 | 0.00 | -0.22 | -0.22 | ||
| 2027 | 15.19 | 12.92 | -2.27 | 140 | 0.00 | -0.21 | -0.21 | ||
| 2028 | 15.43 | 12.97 | -2.47 | 122 | 0.00 | -0.21 | -0.21 | ||
| 2029 | 15.63 | 12.99 | -2.64 | 105 | 0.00 | -0.20 | -0.20 | ||
| 2030 | 15.81 | 13.01 | -2.80 | 87 | 0.00 | -0.20 | -0.20 | ||
| 2031 | 15.97 | 13.03 | -2.94 | 69 | 0.00 | -0.19 | -0.19 | ||
| 2032 | 16.11 | 13.04 | -3.07 | 51 | 0.00 | -0.19 | -0.19 | ||
| 2033 | 16.23 | 13.06 | -3.17 | 32 | 0.00 | -0.18 | -0.18 | ||
| 2034 | 16.33 | 13.07 | -3.25 | 13 | 0.00 | -0.17 | -0.17 | ||
| 2035 | 16.40 | 13.09 | -3.31 | ---- | 0.00 | -0.17 | -0.17 | ||
| 2036 | 16.46 | 13.10 | -3.36 | ---- | 0.00 | -0.16 | -0.16 | ||
| 2037 | 16.52 | 13.11 | -3.41 | ---- | 0.00 | -0.15 | -0.15 | ||
| 2038 | 16.57 | 13.12 | -3.45 | ---- | 0.00 | -0.15 | -0.15 | ||
| 2039 | 16.60 | 13.13 | -3.47 | ---- | 0.00 | -0.14 | -0.14 | ||
| 2040 | 16.62 | 13.14 | -3.48 | ---- | 0.00 | -0.13 | -0.14 | ||
| 2041 | 16.61 | 13.15 | -3.47 | ---- | 0.00 | -0.13 | -0.13 | ||
| 2042 | 16.59 | 13.15 | -3.44 | ---- | 0.00 | -0.12 | -0.12 | ||
| 2043 | 16.56 | 13.16 | -3.40 | ---- | 0.00 | -0.12 | -0.12 | ||
| 2044 | 16.52 | 13.16 | -3.36 | ---- | 0.00 | -0.11 | -0.11 | ||
| 2045 | 16.49 | 13.17 | -3.32 | ---- | 0.00 | -0.10 | -0.10 | ||
| 2046 | 16.45 | 13.17 | -3.28 | ---- | 0.00 | -0.10 | -0.10 | ||
| 2047 | 16.43 | 13.18 | -3.25 | ---- | 0.00 | -0.09 | -0.09 | ||
| 2048 | 16.40 | 13.18 | -3.22 | ---- | 0.00 | -0.09 | -0.09 | ||
| 2049 | 16.38 | 13.19 | -3.20 | ---- | 0.00 | -0.08 | -0.08 | ||
| 2050 | 16.37 | 13.19 | -3.17 | ---- | 0.00 | -0.08 | -0.08 | ||
| 2051 | 16.36 | 13.20 | -3.16 | ---- | 0.00 | -0.07 | -0.07 | ||
| 2052 | 16.36 | 13.20 | -3.16 | ---- | 0.00 | -0.07 | -0.07 | ||
| 2053 | 16.37 | 13.21 | -3.16 | ---- | 0.00 | -0.06 | -0.06 | ||
| 2054 | 16.39 | 13.22 | -3.17 | ---- | 0.00 | -0.06 | -0.06 | ||
| 2055 | 16.41 | 13.22 | -3.19 | ---- | 0.00 | -0.06 | -0.06 | ||
| 2056 | 16.44 | 13.23 | -3.21 | ---- | 0.00 | -0.05 | -0.05 | ||
| 2057 | 16.48 | 13.23 | -3.25 | ---- | 0.00 | -0.05 | -0.05 | ||
| 2058 | 16.53 | 13.24 | -3.29 | ---- | 0.00 | -0.05 | -0.05 | ||
| 2059 | 16.58 | 13.25 | -3.33 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2060 | 16.63 | 13.25 | -3.37 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2061 | 16.68 | 13.26 | -3.42 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2062 | 16.73 | 13.27 | -3.47 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2063 | 16.79 | 13.27 | -3.51 | ---- | 0.00 | -0.04 | -0.04 | ||
| 2064 | 16.84 | 13.28 | -3.56 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2065 | 16.90 | 13.29 | -3.61 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2066 | 16.95 | 13.29 | -3.66 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2067 | 17.01 | 13.30 | -3.72 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2068 | 17.07 | 13.30 | -3.77 | ---- | 0.00 | -0.03 | -0.03 | ||
| 2069 | 17.13 | 13.31 | -3.83 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2070 | 17.20 | 13.31 | -3.88 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2071 | 17.25 | 13.32 | -3.93 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2072 | 17.30 | 13.33 | -3.98 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2073 | 17.35 | 13.33 | -4.02 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2074 | 17.39 | 13.33 | -4.06 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2075 | 17.43 | 13.34 | -4.09 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2076 | 17.46 | 13.34 | -4.12 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2077 | 17.48 | 13.34 | -4.13 | ---- | 0.00 | -0.02 | -0.02 | ||
| 2078 | 17.48 | 13.35 | -4.14 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2079 | 17.48 | 13.35 | -4.13 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2080 | 17.46 | 13.35 | -4.12 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2081 | 17.44 | 13.35 | -4.10 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2082 | 17.42 | 13.35 | -4.08 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2083 | 17.40 | 13.35 | -4.06 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2084 | 17.38 | 13.35 | -4.03 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2085 | 17.36 | 13.34 | -4.01 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2086 | 17.34 | 13.34 | -3.99 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2087 | 17.33 | 13.34 | -3.98 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2088 | 17.33 | 13.34 | -3.98 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2089 | 17.34 | 13.34 | -3.99 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2090 | 17.36 | 13.35 | -4.01 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2091 | 17.39 | 13.35 | -4.04 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2092 | 17.43 | 13.35 | -4.08 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2093 | 17.47 | 13.36 | -4.12 | ---- | 0.00 | -0.01 | -0.01 | ||
| 2094 | 17.52 | 13.36 | -4.16 | ---- | 0.00 | -0.01 | -0.01 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 16.60% | 13.72% | -2.87% | 2034 | 0.00% | -0.09% | -0.09% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.