Proposed Provision: E1.2. Increase the payroll tax rate (currently 12.4 percent) to 16.2 percent in 2034-2063, and to 20.0 percent in years 2064 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 | 78 |
| 2031 | 60 | 60 |
| 2032 | 43 | 43 |
| 2033 | 25 | 25 |
| 2034 | 7 | 7 |
| 2035 | -12 | 8 |
| 2036 | -31 | 11 |
| 2037 | -51 | 13 |
| 2038 | -70 | 14 |
| 2039 | -91 | 15 |
| 2040 | -112 | 17 |
| 2041 | -133 | 18 |
| 2042 | -154 | 18 |
| 2043 | -176 | 19 |
| 2044 | -198 | 20 |
| 2045 | -220 | 21 |
| 2046 | -243 | 22 |
| 2047 | -265 | 23 |
| 2048 | -288 | 24 |
| 2049 | -311 | 24 |
| 2050 | -333 | 25 |
| 2051 | -357 | 25 |
| 2052 | -380 | 26 |
| 2053 | -403 | 26 |
| 2054 | -427 | 26 |
| 2055 | -450 | 26 |
| 2056 | -474 | 25 |
| 2057 | -498 | 24 |
| 2058 | -522 | 23 |
| 2059 | -547 | 21 |
| 2060 | -572 | 19 |
| 2061 | -597 | 16 |
| 2062 | -623 | 13 |
| 2063 | -650 | 10 |
| 2064 | -677 | 7 |
| 2065 | -705 | 21 |
| 2066 | -733 | 37 |
| 2067 | -762 | 52 |
| 2068 | -791 | 67 |
| 2069 | -820 | 82 |
| 2070 | -850 | 97 |
| 2071 | -880 | 112 |
| 2072 | -911 | 126 |
| 2073 | -942 | 140 |
| 2074 | -974 | 154 |
| 2075 | -1006 | 169 |
| 2076 | -1039 | 183 |
| 2077 | -1074 | 197 |
| 2078 | -1108 | 211 |
| 2079 | -1144 | 226 |
| 2080 | -1181 | 241 |
| 2081 | -1218 | 257 |
| 2082 | -1256 | 273 |
| 2083 | -1294 | 289 |
| 2084 | -1333 | 306 |
| 2085 | -1373 | 324 |
| 2086 | -1413 | 342 |
| 2087 | -1453 | 361 |
| 2088 | -1494 | 381 |
| 2089 | -1534 | 401 |
| 2090 | -1574 | 422 |
| 2091 | -1613 | 443 |
| 2092 | -1651 | 465 |
| 2093 | -1689 | 486 |
| 2094 | -1726 | 508 |
| 2095 | -1762 | 530 |
| 2096 | -1798 | 551 |
| 2097 | -1833 | 573 |
| 2098 | -1868 | 595 |
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