Proposed Provision: E3.7. Increase the taxable maximum by an additional 2 percent per year beginning in 2024 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2022 | 230 | 230 |
| 2023 | 211 | 211 |
| 2024 | 194 | 194 |
| 2025 | 177 | 177 |
| 2026 | 160 | 161 |
| 2027 | 143 | 144 |
| 2028 | 126 | 128 |
| 2029 | 109 | 112 |
| 2030 | 91 | 97 |
| 2031 | 74 | 81 |
| 2032 | 57 | 66 |
| 2033 | 39 | 50 |
| 2034 | 21 | 35 |
| 2035 | 3 | 19 |
| 2036 | -16 | 3 |
| 2037 | -35 | -13 |
| 2038 | -54 | -30 |
| 2039 | -74 | -46 |
| 2040 | -95 | -63 |
| 2041 | -116 | -80 |
| 2042 | -137 | -97 |
| 2043 | -158 | -114 |
| 2044 | -180 | -131 |
| 2045 | -202 | -148 |
| 2046 | -224 | -166 |
| 2047 | -246 | -183 |
| 2048 | -268 | -200 |
| 2049 | -291 | -217 |
| 2050 | -313 | -235 |
| 2051 | -336 | -252 |
| 2052 | -359 | -270 |
| 2053 | -383 | -287 |
| 2054 | -406 | -305 |
| 2055 | -430 | -322 |
| 2056 | -453 | -340 |
| 2057 | -477 | -358 |
| 2058 | -501 | -375 |
| 2059 | -525 | -394 |
| 2060 | -550 | -412 |
| 2061 | -575 | -431 |
| 2062 | -601 | -450 |
| 2063 | -627 | -470 |
| 2064 | -654 | -490 |
| 2065 | -681 | -510 |
| 2066 | -708 | -531 |
| 2067 | -736 | -553 |
| 2068 | -764 | -574 |
| 2069 | -792 | -596 |
| 2070 | -821 | -618 |
| 2071 | -850 | -641 |
| 2072 | -880 | -664 |
| 2073 | -910 | -688 |
| 2074 | -940 | -712 |
| 2075 | -971 | -737 |
| 2076 | -1003 | -762 |
| 2077 | -1036 | -788 |
| 2078 | -1069 | -814 |
| 2079 | -1104 | -842 |
| 2080 | -1139 | -870 |
| 2081 | -1175 | -899 |
| 2082 | -1212 | -928 |
| 2083 | -1249 | -957 |
| 2084 | -1286 | -987 |
| 2085 | -1324 | -1018 |
| 2086 | -1363 | -1049 |
| 2087 | -1402 | -1080 |
| 2088 | -1442 | -1111 |
| 2089 | -1481 | -1142 |
| 2090 | -1520 | -1173 |
| 2091 | -1558 | -1203 |
| 2092 | -1595 | -1232 |
| 2093 | -1632 | -1261 |
| 2094 | -1668 | -1290 |
| 2095 | -1703 | -1318 |
| 2096 | -1738 | -1345 |
| 2097 | -1773 | -1372 |
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