Proposed Provision: E3.13. Beginning in 2029, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $611,100 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
20324649
20332731
2034712
2035-13-7
2036-33-27
2037-54-46
2038-76-67
2039-97-87
2040-119-108
2041-142-130
2042-165-151
2043-188-173
2044-211-196
2045-235-218
2046-258-240
2047-282-263
2048-306-286
2049-330-309
2050-354-332
2051-378-355
2052-403-378
2053-427-402
2054-452-425
2055-477-449
2056-502-473
2057-527-496
2058-552-521
2059-578-545
2060-604-570
2061-630-595
2062-657-620
2063-684-646
2064-712-672
2065-740-699
2066-768-726
2067-796-754
2068-825-781
2069-855-809
2070-884-838
2071-914-866
2072-945-895
2073-976-925
2074-1007-955
2075-1039-985
2076-1071-1017
2077-1105-1049
2078-1139-1082
2079-1175-1116
2080-1211-1151
2081-1248-1186
2082-1286-1222
2083-1324-1259
2084-1363-1296
2085-1403-1334
2086-1443-1372
2087-1483-1411
2088-1524-1450
2089-1564-1488
2090-1604-1526
2091-1643-1563
2092-1681-1600
2093-1718-1635
2094-1754-1669
2095-1789-1703
2096-1825-1737
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