Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2024, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2023204204
2024187187
2025168178
2026149170
2027131163
2028114157
202996151
203078144
203160139
203243133
203325128
20347124
2035-12120
2036-31117
2037-51113
2038-70109
2039-91104
2040-112100
2041-13395
2042-15491
2043-17686
2044-19881
2045-22076
2046-24371
2047-26566
2048-28861
2049-31155
2050-33350
2051-35744
2052-38038
2053-40332
2054-42725
2055-45018
2056-47411
2057-4984
2058-522-4
2059-547-13
2060-572-21
2061-597-30
2062-623-40
2063-650-50
2064-677-60
2065-705-71
2066-733-81
2067-762-93
2068-791-104
2069-820-116
2070-850-128
2071-880-141
2072-911-153
2073-942-166
2074-974-180
2075-1006-194
2076-1039-208
2077-1074-222
2078-1108-237
2079-1144-252
2080-1181-267
2081-1218-282
2082-1256-297
2083-1294-313
2084-1333-328
2085-1373-344
2086-1413-359
2087-1453-374
2088-1494-389
2089-1534-404
2090-1574-419
2091-1613-433
2092-1651-447
2093-1689-460
2094-1726-473
2095-1762-486
2096-1798-499
2097-1833-512
2098-1868-525
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