Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2018-2037, until the rate reaches 14.4 percent in 2037 and later.

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

Year Present Law Provision
2012340340
2013329329
2014315315
2015302302
2016290290
2017277277
2018265265
2019253254
2020240242
2021227231
2022212219
2023197206
2024181194
2025164181
2026147168
2027129155
2028110142
202990128
203070115
203149101
20322787
2033573
2034-1860
2035-4146
2036-6533
2037-8921
2038-1148
2039-138-4
2040-163-17
2041-189-29
2042-215-41
2043-240-54
2044-266-66
2045-292-79
2046-319-91
2047-346-104
2048-373-116
2049-400-129
2050-428-141
2051-456-154
2052-484-167
2053-512-180
2054-540-193
2055-569-206
2056-598-219
2057-628-233
2058-657-247
2059-688-261
2060-719-275
2061-750-290
2062-782-305
2063-814-320
2064-847-335
2065-880-350
2066-913-365
2067-946-381
2068-980-397
2069-1014-413
2070-1049-429
2071-1084-446
2072-1120-463
2073-1156-481
2074-1193-498
2075-1230-516
2076-1268-535
2077-1307-554
2078-1346-573
2079-1385-592
2080-1425-611
2081-1465-631
2082-1505-651
2083-1547-672
2084-1588-693
2085-1631-714
2086-1673-736
2087-1717-758
back