Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2029-2048, until the rate reaches 14.4 percent in 2048 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2023 | 204 | 204 |
| 2024 | 187 | 187 |
| 2025 | 168 | 168 |
| 2026 | 149 | 149 |
| 2027 | 131 | 131 |
| 2028 | 114 | 114 |
| 2029 | 96 | 96 |
| 2030 | 78 | 79 |
| 2031 | 60 | 62 |
| 2032 | 43 | 46 |
| 2033 | 25 | 30 |
| 2034 | 7 | 15 |
| 2035 | -12 | 0 |
| 2036 | -31 | -15 |
| 2037 | -51 | -30 |
| 2038 | -70 | -45 |
| 2039 | -91 | -60 |
| 2040 | -112 | -74 |
| 2041 | -133 | -88 |
| 2042 | -154 | -102 |
| 2043 | -176 | -116 |
| 2044 | -198 | -129 |
| 2045 | -220 | -142 |
| 2046 | -243 | -154 |
| 2047 | -265 | -166 |
| 2048 | -288 | -177 |
| 2049 | -311 | -188 |
| 2050 | -333 | -199 |
| 2051 | -357 | -210 |
| 2052 | -380 | -221 |
| 2053 | -403 | -233 |
| 2054 | -427 | -244 |
| 2055 | -450 | -256 |
| 2056 | -474 | -268 |
| 2057 | -498 | -280 |
| 2058 | -522 | -293 |
| 2059 | -547 | -306 |
| 2060 | -572 | -319 |
| 2061 | -597 | -333 |
| 2062 | -623 | -347 |
| 2063 | -650 | -362 |
| 2064 | -677 | -377 |
| 2065 | -705 | -392 |
| 2066 | -733 | -408 |
| 2067 | -762 | -424 |
| 2068 | -791 | -441 |
| 2069 | -820 | -458 |
| 2070 | -850 | -475 |
| 2071 | -880 | -493 |
| 2072 | -911 | -511 |
| 2073 | -942 | -529 |
| 2074 | -974 | -548 |
| 2075 | -1006 | -567 |
| 2076 | -1039 | -586 |
| 2077 | -1074 | -607 |
| 2078 | -1108 | -627 |
| 2079 | -1144 | -649 |
| 2080 | -1181 | -670 |
| 2081 | -1218 | -692 |
| 2082 | -1256 | -715 |
| 2083 | -1294 | -737 |
| 2084 | -1333 | -760 |
| 2085 | -1373 | -783 |
| 2086 | -1413 | -806 |
| 2087 | -1453 | -829 |
| 2088 | -1494 | -852 |
| 2089 | -1534 | -875 |
| 2090 | -1574 | -897 |
| 2091 | -1613 | -919 |
| 2092 | -1651 | -941 |
| 2093 | -1689 | -961 |
| 2094 | -1726 | -982 |
| 2095 | -1762 | -1002 |
| 2096 | -1798 | -1021 |
| 2097 | -1833 | -1041 |
| 2098 | -1868 | -1060 |
back