Summary Measures and Graphs
Description of Proposed Provision:
H2: Starting in 2021, tax Social Security benefits in a manner similar to private pension income. Phase out the lower-income thresholds during 2021-2040.
Estimates based on the intermediate assumptions
of the 2020 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||
-3.21 | -4.51 | 0.18 | 0.15 | 6% | 3% |