Proposed Provision: E3.11. Beginning in 2029, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $458,400 in 2029), with the threshold wage-indexed after 2029. Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122122
2029104104
20308586
20316668
20324650
20332732
2034713
2035-13-6
2036-33-25
2037-54-45
2038-76-65
2039-97-85
2040-119-106
2041-142-127
2042-165-148
2043-188-170
2044-211-192
2045-235-214
2046-258-236
2047-282-259
2048-306-281
2049-330-304
2050-354-326
2051-378-349
2052-403-372
2053-427-395
2054-452-419
2055-477-442
2056-502-466
2057-527-489
2058-552-513
2059-578-537
2060-604-562
2061-630-586
2062-657-612
2063-684-637
2064-712-663
2065-740-690
2066-768-717
2067-796-744
2068-825-771
2069-855-799
2070-884-827
2071-914-855
2072-945-884
2073-976-913
2074-1007-943
2075-1039-973
2076-1071-1004
2077-1105-1036
2078-1139-1069
2079-1175-1102
2080-1211-1137
2081-1248-1172
2082-1286-1207
2083-1324-1244
2084-1363-1281
2085-1403-1318
2086-1443-1356
2087-1483-1394
2088-1524-1433
2089-1564-1471
2090-1604-1509
2091-1643-1545
2092-1681-1581
2093-1718-1616
2094-1754-1650
2095-1789-1683
2096-1825-1717
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