Detailed Single Year Tables

Description of Proposed Provision:
E3.12: Beginning in 2030, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $663,300 in 2030), with the threshold wage-indexed after 2030. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

Financial Estimates for the OASDI Trust Fund Program

Proposal Change from Current Law
Expressed as a percentage of
current-law taxable payroll		 Trust fund
ratio as of
January 1		 Expressed as a percentage of
current-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance		 Cost
rate		 Income
rate		 Annual
balance
202214.0512.79-1.26
230
0.000.000.00
202314.3113.04-1.27
211
0.000.000.00
202414.4512.95-1.49
194
0.000.000.00
202514.6612.97-1.69
177
0.000.000.00
202614.8813.08-1.80
160
0.000.000.00
202715.1013.10-2.00
143
0.000.000.00
202815.3313.14-2.19
126
0.000.000.00
202915.5313.17-2.35
109
0.000.000.00
203015.7213.37-2.35
91
0.000.170.17
203115.9113.41-2.50
75
-0.000.180.18
203216.0713.42-2.65
59
-0.000.180.18
203316.2013.43-2.77
42
0.000.180.17
203416.3213.44-2.88
26
0.000.180.17
203516.4213.45-2.97
8
0.000.180.17
203616.5013.46-3.05
----
0.000.180.17
203716.5813.46-3.12
----
0.000.180.17
203816.6413.47-3.18
----
0.000.180.17
203916.6913.47-3.22
----
0.000.180.17
204016.7213.48-3.25
----
0.010.180.17
204116.7513.48-3.27
----
0.010.180.17
204216.7713.48-3.29
----
0.010.180.17
204316.7913.48-3.31
----
0.010.180.17
204416.8113.48-3.33
----
0.010.180.17
204516.8313.49-3.35
----
0.010.180.17
204616.8513.49-3.37
----
0.010.180.16
204716.8813.49-3.39
----
0.020.180.16
204816.9113.49-3.41
----
0.020.180.16
204916.9313.49-3.44
----
0.020.180.16
205016.9713.50-3.47
----
0.020.180.16
205117.0013.50-3.50
----
0.020.180.15
205217.0413.50-3.54
----
0.030.180.15
205317.0813.51-3.58
----
0.030.180.15
205417.1313.51-3.62
----
0.030.180.15
205517.1813.52-3.67
----
0.030.180.15
205617.2413.52-3.72
----
0.040.180.14
205717.3013.53-3.78
----
0.040.180.14
205817.3713.53-3.84
----
0.040.180.14
205917.4313.54-3.90
----
0.040.180.14
206017.5013.54-3.96
----
0.050.180.13
206117.5613.55-4.02
----
0.050.180.13
206217.6213.55-4.07
----
0.050.180.13
206317.6813.56-4.13
----
0.060.180.13
206417.7413.56-4.18
----
0.060.180.12
206517.7913.57-4.23
----
0.060.180.12
206617.8513.57-4.28
----
0.060.180.12
206717.9013.57-4.33
----
0.070.180.12
206817.9613.58-4.38
----
0.070.180.11
206918.0213.58-4.44
----
0.070.180.11
207018.0813.59-4.49
----
0.080.180.11
207118.1413.59-4.54
----
0.080.190.11
207218.1913.60-4.60
----
0.080.190.10
207318.2513.60-4.65
----
0.090.190.10
207418.3013.60-4.69
----
0.090.190.10
207518.3413.61-4.74
----
0.090.190.10
207618.3813.61-4.77
----
0.090.190.09
207718.4113.61-4.79
----
0.090.190.09
207818.4213.62-4.80
----
0.100.190.09
207918.4113.62-4.80
----
0.100.190.09
208018.4013.62-4.78
----
0.100.190.09
208118.3813.61-4.76
----
0.100.190.09
208218.3513.61-4.73
----
0.100.190.09
208318.3113.61-4.70
----
0.100.190.08
208418.2613.61-4.65
----
0.100.190.08
208518.2113.61-4.60
----
0.100.190.08
208618.1513.60-4.55
----
0.110.190.08
208718.0913.60-4.49
----
0.110.190.08
208818.0213.59-4.43
----
0.110.190.08
208917.9613.59-4.37
----
0.110.190.08
209017.9013.59-4.31
----
0.110.190.08
209117.8513.58-4.27
----
0.110.190.08
209217.8113.58-4.23
----
0.110.190.08
209317.7813.58-4.20
----
0.110.190.08
209417.7613.58-4.18
----
0.110.190.08
209517.7513.58-4.17
----
0.110.190.08
209617.7513.58-4.17
----
0.110.190.08
209717.7513.58-4.18
----
0.110.190.08

Summarized Estimates

Proposal Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance		 Year of reserve
depletion1		 Cost
rate		 Income
rate		 Actuarial
balance
2022-2096 17.24% 13.94% -3.31% 2035 0.04% 0.16% 0.11%

1 Under current law, the year of Trust Fund reserve depletion is 2035.
Based on Intermediate Assumptions of the 2022 Trustees Report.