Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2024-2029). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".
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 | 179 |
| 2026 | 160 | 165 |
| 2027 | 143 | 152 |
| 2028 | 126 | 140 |
| 2029 | 109 | 129 |
| 2030 | 91 | 118 |
| 2031 | 74 | 107 |
| 2032 | 57 | 96 |
| 2033 | 39 | 85 |
| 2034 | 21 | 73 |
| 2035 | 3 | 62 |
| 2036 | -16 | 50 |
| 2037 | -35 | 38 |
| 2038 | -54 | 25 |
| 2039 | -74 | 12 |
| 2040 | -95 | -1 |
| 2041 | -116 | -15 |
| 2042 | -137 | -28 |
| 2043 | -158 | -42 |
| 2044 | -180 | -56 |
| 2045 | -202 | -71 |
| 2046 | -224 | -85 |
| 2047 | -246 | -100 |
| 2048 | -268 | -114 |
| 2049 | -291 | -129 |
| 2050 | -313 | -144 |
| 2051 | -336 | -160 |
| 2052 | -359 | -175 |
| 2053 | -383 | -191 |
| 2054 | -406 | -207 |
| 2055 | -430 | -223 |
| 2056 | -453 | -239 |
| 2057 | -477 | -255 |
| 2058 | -501 | -272 |
| 2059 | -525 | -289 |
| 2060 | -550 | -307 |
| 2061 | -575 | -324 |
| 2062 | -601 | -343 |
| 2063 | -627 | -361 |
| 2064 | -654 | -380 |
| 2065 | -681 | -400 |
| 2066 | -708 | -420 |
| 2067 | -736 | -440 |
| 2068 | -764 | -460 |
| 2069 | -792 | -481 |
| 2070 | -821 | -502 |
| 2071 | -850 | -523 |
| 2072 | -880 | -545 |
| 2073 | -910 | -567 |
| 2074 | -940 | -590 |
| 2075 | -971 | -613 |
| 2076 | -1003 | -636 |
| 2077 | -1036 | -661 |
| 2078 | -1069 | -686 |
| 2079 | -1104 | -711 |
| 2080 | -1139 | -737 |
| 2081 | -1175 | -764 |
| 2082 | -1212 | -791 |
| 2083 | -1249 | -818 |
| 2084 | -1286 | -845 |
| 2085 | -1324 | -873 |
| 2086 | -1363 | -901 |
| 2087 | -1402 | -930 |
| 2088 | -1442 | -958 |
| 2089 | -1481 | -986 |
| 2090 | -1520 | -1014 |
| 2091 | -1558 | -1042 |
| 2092 | -1595 | -1068 |
| 2093 | -1632 | -1095 |
| 2094 | -1668 | -1121 |
| 2095 | -1703 | -1146 |
| 2096 | -1738 | -1171 |
| 2097 | -1773 | -1196 |
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