Detailed Single Year Tables

Description of Proposed Provision:
E2.2: Eliminate the taxable maximum in years 2024 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

Financial Estimates for the OASDI Trust Fund Program

Proposal Change from Current Law
Expressed as a percentage of
current-law taxable payroll		 Trust fund
ratio as of
January 1		 Expressed as a percentage of
current-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance		 Cost
rate		 Income
rate		 Annual
balance
202314.5313.29-1.24
204
0.000.000.00
202414.8715.110.24
187
0.002.222.22
202515.0415.380.34
182
-0.002.402.41
202615.2415.520.28
178
0.002.442.43
202715.3915.540.16
175
0.012.452.44
202815.5715.590.03
171
0.012.462.45
202915.7415.63-0.10
167
0.022.472.45
203015.9015.67-0.23
163
0.032.492.46
203116.0415.71-0.33
159
0.042.502.46
203216.1915.75-0.44
154
0.052.512.46
203316.3215.76-0.57
149
0.062.512.45
203416.4515.77-0.68
145
0.072.512.44
203516.5615.78-0.78
141
0.082.522.43
203616.6515.79-0.86
137
0.102.522.42
203716.7515.80-0.94
132
0.112.522.41
203816.8315.81-1.01
127
0.132.522.39
203916.8915.82-1.07
122
0.152.532.38
204016.9515.83-1.12
116
0.172.532.36
204116.9915.83-1.16
111
0.192.532.35
204217.0215.84-1.19
105
0.212.542.33
204317.0615.84-1.22
99
0.232.542.31
204417.1015.85-1.25
92
0.252.542.29
204517.1415.85-1.28
86
0.272.552.27
204617.1815.86-1.32
79
0.302.552.25
204717.2315.87-1.36
72
0.322.552.23
204817.2815.87-1.41
65
0.352.562.21
204917.3315.88-1.45
57
0.382.562.18
205017.3915.89-1.51
50
0.402.562.16
205117.4515.89-1.56
41
0.432.572.14
205217.5215.90-1.62
33
0.462.572.11
205317.6015.91-1.69
24
0.492.582.09
205417.6815.92-1.76
15
0.522.582.06
205517.7815.93-1.85
5
0.552.582.04
205617.8815.94-1.94
----
0.582.592.01
205717.9915.95-2.04
----
0.612.591.99
205818.1015.96-2.14
----
0.642.601.96
205918.2115.97-2.24
----
0.672.601.93
206018.3215.98-2.34
----
0.702.611.91
206118.4215.99-2.43
----
0.732.611.88
206218.5216.00-2.52
----
0.762.611.86
206318.6116.01-2.60
----
0.782.621.83
206418.7016.02-2.68
----
0.812.621.81
206518.7816.02-2.76
----
0.842.621.79
206618.8716.03-2.83
----
0.862.631.77
206718.9416.04-2.90
----
0.882.631.75
206819.0216.05-2.97
----
0.912.631.73
206919.1016.06-3.05
----
0.932.641.71
207019.1816.06-3.11
----
0.952.641.69
207119.2516.07-3.18
----
0.972.641.68
207219.3216.08-3.24
----
0.982.651.66
207319.3816.08-3.30
----
1.002.651.65
207419.4416.09-3.35
----
1.022.651.63
207519.4916.09-3.40
----
1.032.651.62
207619.5316.10-3.43
----
1.042.651.61
207719.5516.10-3.45
----
1.052.661.60
207819.5616.10-3.46
----
1.062.661.60
207919.5616.11-3.45
----
1.072.661.59
208019.5416.11-3.43
----
1.072.661.59
208119.5116.11-3.41
----
1.082.661.58
208219.4716.10-3.37
----
1.082.661.58
208319.4316.10-3.32
----
1.082.661.58
208419.3716.10-3.27
----
1.082.661.58
208519.3116.10-3.21
----
1.082.661.58
208619.2416.09-3.15
----
1.082.661.58
208719.1716.09-3.08
----
1.082.661.58
208819.0916.08-3.01
----
1.082.661.59
208919.0316.08-2.95
----
1.072.661.59
209018.9616.08-2.89
----
1.072.661.59
209118.9116.07-2.83
----
1.072.661.60
209218.8616.07-2.79
----
1.062.661.60
209318.8316.07-2.76
----
1.062.661.60
209418.8116.07-2.75
----
1.062.661.60
209518.8116.07-2.74
----
1.062.661.60
209618.8116.07-2.74
----
1.062.671.60
209718.8116.07-2.74
----
1.062.671.60
209818.8316.07-2.76
----
1.062.671.60

Summarized Estimates

Proposal Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance		 Year of reserve
depletion1		 Cost
rate		 Income
rate		 Actuarial
balance
2023-2097 17.95% 16.32% -1.63% 2055 0.57% 2.54% 1.97%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2023 Trustees Report.