Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2022-2027). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 233 |
| 2023 | 217 | 218 |
| 2024 | 200 | 204 |
| 2025 | 183 | 191 |
| 2026 | 165 | 178 |
| 2027 | 148 | 166 |
| 2028 | 130 | 154 |
| 2029 | 112 | 141 |
| 2030 | 94 | 129 |
| 2031 | 76 | 117 |
| 2032 | 58 | 104 |
| 2033 | 39 | 92 |
| 2034 | 20 | 79 |
| 2035 | 1 | 66 |
| 2036 | -19 | 53 |
| 2037 | -38 | 39 |
| 2038 | -59 | 26 |
| 2039 | -80 | 12 |
| 2040 | -101 | -3 |
| 2041 | -122 | -17 |
| 2042 | -144 | -32 |
| 2043 | -166 | -47 |
| 2044 | -188 | -62 |
| 2045 | -210 | -77 |
| 2046 | -232 | -92 |
| 2047 | -255 | -107 |
| 2048 | -277 | -122 |
| 2049 | -299 | -137 |
| 2050 | -322 | -152 |
| 2051 | -344 | -168 |
| 2052 | -367 | -183 |
| 2053 | -389 | -198 |
| 2054 | -412 | -214 |
| 2055 | -434 | -229 |
| 2056 | -457 | -245 |
| 2057 | -480 | -261 |
| 2058 | -504 | -277 |
| 2059 | -527 | -294 |
| 2060 | -551 | -310 |
| 2061 | -575 | -328 |
| 2062 | -599 | -345 |
| 2063 | -624 | -363 |
| 2064 | -650 | -381 |
| 2065 | -676 | -400 |
| 2066 | -702 | -419 |
| 2067 | -728 | -438 |
| 2068 | -755 | -458 |
| 2069 | -782 | -478 |
| 2070 | -809 | -498 |
| 2071 | -837 | -519 |
| 2072 | -866 | -540 |
| 2073 | -895 | -562 |
| 2074 | -925 | -584 |
| 2075 | -955 | -607 |
| 2076 | -986 | -630 |
| 2077 | -1018 | -654 |
| 2078 | -1051 | -679 |
| 2079 | -1084 | -704 |
| 2080 | -1119 | -730 |
| 2081 | -1154 | -756 |
| 2082 | -1190 | -782 |
| 2083 | -1226 | -809 |
| 2084 | -1263 | -836 |
| 2085 | -1300 | -864 |
| 2086 | -1337 | -891 |
| 2087 | -1374 | -919 |
| 2088 | -1411 | -946 |
| 2089 | -1448 | -973 |
| 2090 | -1484 | -999 |
| 2091 | -1520 | -1026 |
| 2092 | -1554 | -1051 |
| 2093 | -1589 | -1077 |
| 2094 | -1623 | -1102 |
| 2095 | -1657 | -1127 |
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