Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

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

Year Current Law Provision
2020261261
2021248248
2022233233
2023217217
2024200200
2025183183
2026165165
2027148148
2028130130
2029112112
20309494
20317676
20325858
20333939
20342020
203511
2036-19-19
2037-38-38
2038-59-59
2039-80-80
2040-101-101
2041-122-122
2042-144-144
2043-166-166
2044-188-188
2045-210-210
2046-232-233
2047-255-255
2048-277-279
2049-299-302
2050-322-326
2051-344-350
2052-367-374
2053-389-399
2054-412-423
2055-434-452
2056-457-480
2057-480-509
2058-504-538
2059-527-567
2060-551-597
2061-575-627
2062-599-657
2063-624-688
2064-650-719
2065-676-751
2066-702-783
2067-728-816
2068-755-848
2069-782-882
2070-809-915
2071-837-949
2072-866-984
2073-895-1020
2074-925-1056
2075-955-1093
2076-986-1130
2077-1018-1169
2078-1051-1208
2079-1084-1249
2080-1119-1290
2081-1154-1333
2082-1190-1376
2083-1226-1419
2084-1263-1464
2085-1300-1508
2086-1337-1553
2087-1374-1599
2088-1411-1643
2089-1448-1688
2090-1484-1732
2091-1520-1775
2092-1554-1817
2093-1589-1859
2094-1623-1900
2095-1657-1941
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