Proposed Provision: E1.1. Increase the payroll tax rate (currently 12.4 percent) to 16.0 percent in 2023 and later.

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

Year Current Law Provision
2022230230
2023211211
2024194216
2025177221
2026160224
2027143227
2028126229
2029109230
203091232
203174233
203257234
203339236
203421237
20353241
2036-16244
2037-35246
2038-54249
2039-74252
2040-95254
2041-116257
2042-137260
2043-158263
2044-180266
2045-202268
2046-224271
2047-246273
2048-268275
2049-291277
2050-313279
2051-336281
2052-359282
2053-383283
2054-406284
2055-430284
2056-453285
2057-477284
2058-501284
2059-525283
2060-550282
2061-575280
2062-601279
2063-627277
2064-654274
2065-681272
2066-708269
2067-736266
2068-764263
2069-792260
2070-821256
2071-850252
2072-880248
2073-910243
2074-940238
2075-971233
2076-1003228
2077-1036223
2078-1069218
2079-1104213
2080-1139208
2081-1175203
2082-1212198
2083-1249193
2084-1286189
2085-1324185
2086-1363181
2087-1402177
2088-1442174
2089-1481171
2090-1520168
2091-1558165
2092-1595162
2093-1632160
2094-1668157
2095-1703155
2096-1738152
2097-1773150
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