Proposed Provision: E3.2. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in 2024-2033). Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2023 | 204 | 204 |
2024 | 187 | 187 |
2025 | 168 | 169 |
2026 | 149 | 152 |
2027 | 131 | 137 |
2028 | 114 | 122 |
2029 | 96 | 108 |
2030 | 78 | 95 |
2031 | 60 | 82 |
2032 | 43 | 70 |
2033 | 25 | 58 |
2034 | 7 | 46 |
2035 | -12 | 34 |
2036 | -31 | 22 |
2037 | -51 | 9 |
2038 | -70 | -4 |
2039 | -91 | -18 |
2040 | -112 | -31 |
2041 | -133 | -45 |
2042 | -154 | -60 |
2043 | -176 | -74 |
2044 | -198 | -89 |
2045 | -220 | -103 |
2046 | -243 | -118 |
2047 | -265 | -133 |
2048 | -288 | -148 |
2049 | -311 | -163 |
2050 | -333 | -179 |
2051 | -357 | -194 |
2052 | -380 | -210 |
2053 | -403 | -226 |
2054 | -427 | -242 |
2055 | -450 | -258 |
2056 | -474 | -274 |
2057 | -498 | -291 |
2058 | -522 | -308 |
2059 | -547 | -325 |
2060 | -572 | -343 |
2061 | -597 | -361 |
2062 | -623 | -380 |
2063 | -650 | -399 |
2064 | -677 | -419 |
2065 | -705 | -439 |
2066 | -733 | -460 |
2067 | -762 | -481 |
2068 | -791 | -502 |
2069 | -820 | -523 |
2070 | -850 | -545 |
2071 | -880 | -568 |
2072 | -911 | -591 |
2073 | -942 | -614 |
2074 | -974 | -637 |
2075 | -1006 | -661 |
2076 | -1039 | -686 |
2077 | -1074 | -711 |
2078 | -1108 | -737 |
2079 | -1144 | -764 |
2080 | -1181 | -791 |
2081 | -1218 | -818 |
2082 | -1256 | -846 |
2083 | -1294 | -875 |
2084 | -1333 | -903 |
2085 | -1373 | -932 |
2086 | -1413 | -961 |
2087 | -1453 | -990 |
2088 | -1494 | -1019 |
2089 | -1534 | -1048 |
2090 | -1574 | -1077 |
2091 | -1613 | -1105 |
2092 | -1651 | -1133 |
2093 | -1689 | -1160 |
2094 | -1726 | -1186 |
2095 | -1762 | -1212 |
2096 | -1798 | -1238 |
2097 | -1833 | -1263 |
2098 | -1868 | -1288 |
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