Detailed Single Year Tables
Description of Proposed Provision:
E3.18: Increase the taxable maximum linearly over 4 years to $279,900 for 2028. After 2028, index the taxable maximum to AWI plus 0.5 percentage point. Apply benefit credit on additional earnings taxed.
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 |
|||
2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
2025 | 15.04 | 13.20 | -1.85 | 168 | 0.00 | 0.22 | 0.22 | ||
2026 | 15.23 | 13.49 | -1.74 | 151 | -0.00 | 0.41 | 0.41 | ||
2027 | 15.38 | 13.64 | -1.74 | 135 | 0.00 | 0.55 | 0.55 | ||
2028 | 15.56 | 13.78 | -1.77 | 121 | 0.00 | 0.65 | 0.65 | ||
2029 | 15.72 | 13.83 | -1.90 | 107 | 0.00 | 0.67 | 0.66 | ||
2030 | 15.88 | 13.86 | -2.02 | 93 | 0.01 | 0.67 | 0.67 | ||
2031 | 16.01 | 13.89 | -2.12 | 79 | 0.01 | 0.68 | 0.67 | ||
2032 | 16.16 | 13.92 | -2.23 | 65 | 0.01 | 0.69 | 0.68 | ||
2033 | 16.28 | 13.94 | -2.34 | 51 | 0.02 | 0.69 | 0.68 | ||
2034 | 16.40 | 13.96 | -2.44 | 37 | 0.02 | 0.70 | 0.68 | ||
2035 | 16.50 | 13.98 | -2.52 | 22 | 0.02 | 0.71 | 0.69 | ||
2036 | 16.59 | 13.99 | -2.59 | 7 | 0.03 | 0.72 | 0.69 | ||
2037 | 16.67 | 14.01 | -2.66 | ---- | 0.04 | 0.73 | 0.69 | ||
2038 | 16.74 | 14.02 | -2.71 | ---- | 0.04 | 0.74 | 0.69 | ||
2039 | 16.80 | 14.04 | -2.76 | ---- | 0.05 | 0.74 | 0.69 | ||
2040 | 16.84 | 14.05 | -2.79 | ---- | 0.06 | 0.75 | 0.69 | ||
2041 | 16.87 | 14.06 | -2.81 | ---- | 0.07 | 0.76 | 0.69 | ||
2042 | 16.89 | 14.07 | -2.82 | ---- | 0.08 | 0.77 | 0.69 | ||
2043 | 16.92 | 14.08 | -2.84 | ---- | 0.08 | 0.78 | 0.69 | ||
2044 | 16.94 | 14.09 | -2.85 | ---- | 0.10 | 0.78 | 0.69 | ||
2045 | 16.97 | 14.10 | -2.87 | ---- | 0.11 | 0.79 | 0.69 | ||
2046 | 17.00 | 14.11 | -2.89 | ---- | 0.12 | 0.80 | 0.68 | ||
2047 | 17.03 | 14.12 | -2.91 | ---- | 0.13 | 0.81 | 0.68 | ||
2048 | 17.07 | 14.13 | -2.94 | ---- | 0.14 | 0.82 | 0.68 | ||
2049 | 17.11 | 14.15 | -2.97 | ---- | 0.15 | 0.83 | 0.67 | ||
2050 | 17.16 | 14.16 | -3.00 | ---- | 0.17 | 0.84 | 0.67 | ||
2051 | 17.20 | 14.17 | -3.03 | ---- | 0.18 | 0.84 | 0.66 | ||
2052 | 17.26 | 14.18 | -3.08 | ---- | 0.20 | 0.85 | 0.66 | ||
2053 | 17.32 | 14.19 | -3.13 | ---- | 0.21 | 0.86 | 0.65 | ||
2054 | 17.39 | 14.21 | -3.19 | ---- | 0.23 | 0.87 | 0.64 | ||
2055 | 17.48 | 14.22 | -3.25 | ---- | 0.24 | 0.88 | 0.63 | ||
2056 | 17.56 | 14.24 | -3.33 | ---- | 0.26 | 0.89 | 0.63 | ||
2057 | 17.66 | 14.25 | -3.41 | ---- | 0.28 | 0.90 | 0.62 | ||
2058 | 17.75 | 14.27 | -3.49 | ---- | 0.30 | 0.90 | 0.61 | ||
2059 | 17.85 | 14.28 | -3.57 | ---- | 0.31 | 0.91 | 0.60 | ||
2060 | 17.95 | 14.30 | -3.65 | ---- | 0.33 | 0.92 | 0.59 | ||
2061 | 18.04 | 14.31 | -3.73 | ---- | 0.35 | 0.93 | 0.58 | ||
2062 | 18.13 | 14.32 | -3.80 | ---- | 0.37 | 0.94 | 0.57 | ||
2063 | 18.21 | 14.34 | -3.87 | ---- | 0.38 | 0.95 | 0.56 | ||
2064 | 18.29 | 14.35 | -3.94 | ---- | 0.40 | 0.96 | 0.55 | ||
2065 | 18.37 | 14.36 | -4.00 | ---- | 0.42 | 0.96 | 0.54 | ||
2066 | 18.44 | 14.38 | -4.06 | ---- | 0.44 | 0.97 | 0.54 | ||
2067 | 18.52 | 14.39 | -4.12 | ---- | 0.46 | 0.98 | 0.53 | ||
2068 | 18.59 | 14.40 | -4.18 | ---- | 0.47 | 0.99 | 0.52 | ||
2069 | 18.66 | 14.42 | -4.25 | ---- | 0.49 | 1.00 | 0.51 | ||
2070 | 18.74 | 14.43 | -4.31 | ---- | 0.51 | 1.01 | 0.50 | ||
2071 | 18.81 | 14.44 | -4.36 | ---- | 0.52 | 1.01 | 0.49 | ||
2072 | 18.87 | 14.45 | -4.42 | ---- | 0.54 | 1.02 | 0.49 | ||
2073 | 18.93 | 14.47 | -4.47 | ---- | 0.55 | 1.03 | 0.48 | ||
2074 | 18.99 | 14.48 | -4.52 | ---- | 0.57 | 1.04 | 0.47 | ||
2075 | 19.04 | 14.49 | -4.55 | ---- | 0.58 | 1.05 | 0.47 | ||
2076 | 19.08 | 14.50 | -4.58 | ---- | 0.59 | 1.05 | 0.46 | ||
2077 | 19.11 | 14.51 | -4.60 | ---- | 0.60 | 1.06 | 0.46 | ||
2078 | 19.12 | 14.52 | -4.60 | ---- | 0.61 | 1.07 | 0.45 | ||
2079 | 19.11 | 14.52 | -4.59 | ---- | 0.62 | 1.08 | 0.45 | ||
2080 | 19.10 | 14.53 | -4.57 | ---- | 0.63 | 1.08 | 0.45 | ||
2081 | 19.07 | 14.53 | -4.54 | ---- | 0.64 | 1.09 | 0.45 | ||
2082 | 19.04 | 14.54 | -4.50 | ---- | 0.65 | 1.10 | 0.45 | ||
2083 | 19.00 | 14.54 | -4.46 | ---- | 0.65 | 1.10 | 0.45 | ||
2084 | 18.95 | 14.55 | -4.40 | ---- | 0.66 | 1.11 | 0.45 | ||
2085 | 18.89 | 14.55 | -4.34 | ---- | 0.66 | 1.11 | 0.45 | ||
2086 | 18.83 | 14.55 | -4.28 | ---- | 0.67 | 1.12 | 0.45 | ||
2087 | 18.76 | 14.55 | -4.21 | ---- | 0.67 | 1.13 | 0.46 | ||
2088 | 18.69 | 14.55 | -4.14 | ---- | 0.67 | 1.13 | 0.46 | ||
2089 | 18.63 | 14.56 | -4.07 | ---- | 0.68 | 1.14 | 0.46 | ||
2090 | 18.57 | 14.56 | -4.01 | ---- | 0.68 | 1.15 | 0.47 | ||
2091 | 18.52 | 14.56 | -3.96 | ---- | 0.68 | 1.15 | 0.47 | ||
2092 | 18.49 | 14.57 | -3.92 | ---- | 0.69 | 1.16 | 0.47 | ||
2093 | 18.46 | 14.57 | -3.89 | ---- | 0.69 | 1.16 | 0.47 | ||
2094 | 18.45 | 14.57 | -3.87 | ---- | 0.69 | 1.17 | 0.48 | ||
2095 | 18.44 | 14.58 | -3.86 | ---- | 0.70 | 1.18 | 0.48 | ||
2096 | 18.45 | 14.59 | -3.86 | ---- | 0.70 | 1.18 | 0.48 | ||
2097 | 18.46 | 14.59 | -3.87 | ---- | 0.71 | 1.19 | 0.48 | ||
2098 | 18.48 | 14.60 | -3.88 | ---- | 0.71 | 1.20 | 0.48 |
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 | 17.69% | 14.64% | -3.05% | 2036 | 0.31% | 0.86% | 0.55% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
Based on Intermediate Assumptions of the 2023 Trustees Report.