Summary Measures and Graphs

Description of Proposed Provision:
E3.18: Increase the taxable maximum linearly over 4 years to $279,900 for 2028. After 2028, index the taxable maximum to AWI plus 0.5 percentage point. Apply benefit credit on additional earnings taxed.

Estimates based on the intermediate assumptions of the 2023 Trustees Report
Summary Measures
Current law
[percent of payroll]		 Change from current law
[percent of payroll]		 Shortfall eliminated
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-3.61 -4.35 0.55 0.48 15% 11%

graph of OASDI cost rates and income rates by year, under current law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under current law and provision. click on graph to view underlying data.