Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2026-2045, until the rate reaches 14.4 percent in 2045 and later.

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

Year Current Law Provision
2020261261
2021248248
2022233233
2023217217
2024200200
2025183183
2026165165
2027148148
2028130132
2029112115
203094100
20317684
20325869
20333955
20342041
2035127
2036-1913
2037-38-1
2038-59-14
2039-80-27
2040-101-40
2041-122-53
2042-144-65
2043-166-77
2044-188-88
2045-210-99
2046-232-109
2047-255-119
2048-277-129
2049-299-139
2050-322-149
2051-344-159
2052-367-169
2053-389-179
2054-412-189
2055-434-200
2056-457-210
2057-480-221
2058-504-232
2059-527-243
2060-551-254
2061-575-266
2062-599-278
2063-624-290
2064-650-303
2065-676-316
2066-702-330
2067-728-344
2068-755-358
2069-782-372
2070-809-387
2071-837-403
2072-866-418
2073-895-435
2074-925-451
2075-955-468
2076-986-486
2077-1018-503
2078-1051-522
2079-1084-541
2080-1119-560
2081-1154-580
2082-1190-600
2083-1226-620
2084-1263-640
2085-1300-661
2086-1337-681
2087-1374-701
2088-1411-722
2089-1448-741
2090-1484-761
2091-1520-780
2092-1554-799
2093-1589-818
2094-1623-836
2095-1657-855
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