Proposed Provision: B7.3. Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $27,821 in 2020). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2021. The 5 years are chosen to yield the largest increase in AIME.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
202013.013.013.913.9
202112.912.914.014.1
202212.912.914.214.3
202312.912.914.414.5
202413.013.014.614.7
202513.013.014.914.9
202613.113.115.115.2
202713.113.215.315.4
202813.213.215.615.7
202913.213.215.815.9
203013.213.216.016.1
203113.313.316.216.3
203213.313.316.316.5
203313.313.316.516.6
203413.313.316.616.7
203513.313.316.616.8
203613.313.316.716.9
203713.313.316.716.9
203813.313.316.817.0
203913.313.316.817.0
204013.313.316.817.1
204113.313.316.917.1
204213.313.316.917.1
204313.313.316.817.1
204413.313.316.817.1
204513.313.316.817.1
204613.313.316.817.1
204713.313.316.817.1
204813.313.316.817.1
204913.313.316.817.1
205013.313.316.817.1
205113.313.316.817.1
205213.313.316.817.1
205313.313.316.817.1
205413.313.316.917.2
205513.313.316.917.2
205613.313.416.917.2
205713.313.417.017.3
205813.313.417.017.3
205913.413.417.117.4
206013.413.417.117.5
206113.413.417.217.5
206213.413.417.317.6
206313.413.417.317.7
206413.413.417.417.7
206513.413.417.517.8
206613.413.417.517.9
206713.413.417.617.9
206813.413.417.718.0
206913.413.417.718.1
207013.413.417.818.1
207113.413.417.918.2
207213.413.417.918.3
207313.413.418.018.3
207413.413.418.018.4
207513.413.418.118.4
207613.413.418.118.5
207713.413.518.118.5
207813.413.518.218.5
207913.413.518.218.5
208013.413.518.118.5
208113.413.518.118.5
208213.413.418.118.4
208313.413.418.118.4
208413.413.418.018.4
208513.413.418.018.3
208613.413.418.018.3
208713.413.417.918.3
208813.413.417.918.2
208913.413.417.918.2
209013.413.417.918.2
209113.413.417.918.2
209213.413.417.918.2
209313.413.417.918.3
209413.413.417.918.3
209513.413.418.018.3
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