Proposed Provision: E1.1. Increase the payroll tax rate (currently 12.4 percent) to 16.2 percent in 2024 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 | 189 |
| 2026 | 149 | 193 |
| 2027 | 131 | 196 |
| 2028 | 114 | 200 |
| 2029 | 96 | 202 |
| 2030 | 78 | 204 |
| 2031 | 60 | 206 |
| 2032 | 43 | 208 |
| 2033 | 25 | 210 |
| 2034 | 7 | 212 |
| 2035 | -12 | 216 |
| 2036 | -31 | 219 |
| 2037 | -51 | 223 |
| 2038 | -70 | 226 |
| 2039 | -91 | 229 |
| 2040 | -112 | 232 |
| 2041 | -133 | 235 |
| 2042 | -154 | 238 |
| 2043 | -176 | 242 |
| 2044 | -198 | 245 |
| 2045 | -220 | 248 |
| 2046 | -243 | 251 |
| 2047 | -265 | 254 |
| 2048 | -288 | 257 |
| 2049 | -311 | 260 |
| 2050 | -333 | 263 |
| 2051 | -357 | 265 |
| 2052 | -380 | 267 |
| 2053 | -403 | 269 |
| 2054 | -427 | 270 |
| 2055 | -450 | 271 |
| 2056 | -474 | 272 |
| 2057 | -498 | 272 |
| 2058 | -522 | 272 |
| 2059 | -547 | 271 |
| 2060 | -572 | 270 |
| 2061 | -597 | 269 |
| 2062 | -623 | 267 |
| 2063 | -650 | 265 |
| 2064 | -677 | 263 |
| 2065 | -705 | 260 |
| 2066 | -733 | 258 |
| 2067 | -762 | 255 |
| 2068 | -791 | 252 |
| 2069 | -820 | 248 |
| 2070 | -850 | 244 |
| 2071 | -880 | 240 |
| 2072 | -911 | 236 |
| 2073 | -942 | 231 |
| 2074 | -974 | 227 |
| 2075 | -1006 | 222 |
| 2076 | -1039 | 217 |
| 2077 | -1074 | 212 |
| 2078 | -1108 | 207 |
| 2079 | -1144 | 202 |
| 2080 | -1181 | 197 |
| 2081 | -1218 | 193 |
| 2082 | -1256 | 188 |
| 2083 | -1294 | 184 |
| 2084 | -1333 | 180 |
| 2085 | -1373 | 176 |
| 2086 | -1413 | 173 |
| 2087 | -1453 | 169 |
| 2088 | -1494 | 167 |
| 2089 | -1534 | 164 |
| 2090 | -1574 | 162 |
| 2091 | -1613 | 160 |
| 2092 | -1651 | 158 |
| 2093 | -1689 | 156 |
| 2094 | -1726 | 154 |
| 2095 | -1762 | 152 |
| 2096 | -1798 | 150 |
| 2097 | -1833 | 148 |
| 2098 | -1868 | 146 |
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