Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2023, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2022 | 230 | 230 |
| 2023 | 211 | 211 |
| 2024 | 194 | 207 |
| 2025 | 177 | 203 |
| 2026 | 160 | 197 |
| 2027 | 143 | 192 |
| 2028 | 126 | 187 |
| 2029 | 109 | 182 |
| 2030 | 91 | 176 |
| 2031 | 74 | 171 |
| 2032 | 57 | 166 |
| 2033 | 39 | 162 |
| 2034 | 21 | 157 |
| 2035 | 3 | 154 |
| 2036 | -16 | 151 |
| 2037 | -35 | 148 |
| 2038 | -54 | 145 |
| 2039 | -74 | 141 |
| 2040 | -95 | 138 |
| 2041 | -116 | 134 |
| 2042 | -137 | 130 |
| 2043 | -158 | 127 |
| 2044 | -180 | 123 |
| 2045 | -202 | 118 |
| 2046 | -224 | 114 |
| 2047 | -246 | 110 |
| 2048 | -268 | 105 |
| 2049 | -291 | 101 |
| 2050 | -313 | 96 |
| 2051 | -336 | 91 |
| 2052 | -359 | 85 |
| 2053 | -383 | 80 |
| 2054 | -406 | 74 |
| 2055 | -430 | 68 |
| 2056 | -453 | 62 |
| 2057 | -477 | 55 |
| 2058 | -501 | 48 |
| 2059 | -525 | 41 |
| 2060 | -550 | 33 |
| 2061 | -575 | 25 |
| 2062 | -601 | 17 |
| 2063 | -627 | 8 |
| 2064 | -654 | -1 |
| 2065 | -681 | -10 |
| 2066 | -708 | -20 |
| 2067 | -736 | -29 |
| 2068 | -764 | -39 |
| 2069 | -792 | -50 |
| 2070 | -821 | -61 |
| 2071 | -850 | -72 |
| 2072 | -880 | -83 |
| 2073 | -910 | -95 |
| 2074 | -940 | -107 |
| 2075 | -971 | -119 |
| 2076 | -1003 | -131 |
| 2077 | -1036 | -144 |
| 2078 | -1069 | -158 |
| 2079 | -1104 | -171 |
| 2080 | -1139 | -185 |
| 2081 | -1175 | -198 |
| 2082 | -1212 | -212 |
| 2083 | -1249 | -226 |
| 2084 | -1286 | -240 |
| 2085 | -1324 | -253 |
| 2086 | -1363 | -267 |
| 2087 | -1402 | -281 |
| 2088 | -1442 | -295 |
| 2089 | -1481 | -308 |
| 2090 | -1520 | -321 |
| 2091 | -1558 | -334 |
| 2092 | -1595 | -346 |
| 2093 | -1632 | -358 |
| 2094 | -1668 | -370 |
| 2095 | -1703 | -382 |
| 2096 | -1738 | -394 |
| 2097 | -1773 | -405 |
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