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 |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 196 |
2025 | 178 | 178 |
2026 | 159 | 159 |
2027 | 141 | 141 |
2028 | 122 | 122 |
2029 | 104 | 104 |
2030 | 85 | 86 |
2031 | 66 | 68 |
2032 | 46 | 49 |
2033 | 27 | 31 |
2034 | 7 | 12 |
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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