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.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2020261261
2021248248
2022233233
2023217218
2024200202
2025183186
2026165169
2027148153
2028130136
2029112119
203094102
20317685
20325868
20333951
20342034
2035116
2036-19-2
2037-38-20
2038-59-39
2039-80-58
2040-101-78
2041-122-97
2042-144-118
2043-166-138
2044-188-158
2045-210-179
2046-232-200
2047-255-221
2048-277-242
2049-299-262
2050-322-283
2051-344-305
2052-367-326
2053-389-347
2054-412-368
2055-434-389
2056-457-411
2057-480-433
2058-504-455
2059-527-477
2060-551-499
2061-575-522
2062-599-546
2063-624-569
2064-650-593
2065-676-618
2066-702-643
2067-728-668
2068-755-694
2069-782-719
2070-809-746
2071-837-772
2072-866-800
2073-895-828
2074-925-856
2075-955-885
2076-986-915
2077-1018-945
2078-1051-976
2079-1084-1009
2080-1119-1042
2081-1154-1075
2082-1190-1109
2083-1226-1144
2084-1263-1179
2085-1300-1214
2086-1337-1250
2087-1374-1286
2088-1411-1321
2089-1448-1356
2090-1484-1391
2091-1520-1424
2092-1554-1458
2093-1589-1491
2094-1623-1523
2095-1657-1556
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