Proposed Provision: E2.1. Eliminate the taxable maximum in years 2021 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 248 |
| 2023 | 217 | 247 |
| 2024 | 200 | 245 |
| 2025 | 183 | 241 |
| 2026 | 165 | 236 |
| 2027 | 148 | 232 |
| 2028 | 130 | 226 |
| 2029 | 112 | 220 |
| 2030 | 94 | 214 |
| 2031 | 76 | 208 |
| 2032 | 58 | 203 |
| 2033 | 39 | 197 |
| 2034 | 20 | 192 |
| 2035 | 1 | 188 |
| 2036 | -19 | 183 |
| 2037 | -38 | 178 |
| 2038 | -59 | 173 |
| 2039 | -80 | 167 |
| 2040 | -101 | 162 |
| 2041 | -122 | 156 |
| 2042 | -144 | 151 |
| 2043 | -166 | 146 |
| 2044 | -188 | 140 |
| 2045 | -210 | 135 |
| 2046 | -232 | 129 |
| 2047 | -255 | 124 |
| 2048 | -277 | 119 |
| 2049 | -299 | 113 |
| 2050 | -322 | 108 |
| 2051 | -344 | 102 |
| 2052 | -367 | 97 |
| 2053 | -389 | 91 |
| 2054 | -412 | 85 |
| 2055 | -434 | 79 |
| 2056 | -457 | 73 |
| 2057 | -480 | 66 |
| 2058 | -504 | 60 |
| 2059 | -527 | 53 |
| 2060 | -551 | 45 |
| 2061 | -575 | 38 |
| 2062 | -599 | 30 |
| 2063 | -624 | 22 |
| 2064 | -650 | 13 |
| 2065 | -676 | 4 |
| 2066 | -702 | -5 |
| 2067 | -728 | -14 |
| 2068 | -755 | -24 |
| 2069 | -782 | -35 |
| 2070 | -809 | -45 |
| 2071 | -837 | -56 |
| 2072 | -866 | -67 |
| 2073 | -895 | -79 |
| 2074 | -925 | -91 |
| 2075 | -955 | -103 |
| 2076 | -986 | -116 |
| 2077 | -1018 | -129 |
| 2078 | -1051 | -142 |
| 2079 | -1084 | -155 |
| 2080 | -1119 | -168 |
| 2081 | -1154 | -182 |
| 2082 | -1190 | -196 |
| 2083 | -1226 | -209 |
| 2084 | -1263 | -223 |
| 2085 | -1300 | -237 |
| 2086 | -1337 | -251 |
| 2087 | -1374 | -264 |
| 2088 | -1411 | -278 |
| 2089 | -1448 | -291 |
| 2090 | -1484 | -304 |
| 2091 | -1520 | -318 |
| 2092 | -1554 | -331 |
| 2093 | -1589 | -344 |
| 2094 | -1623 | -357 |
| 2095 | -1657 | -370 |
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