Proposed Provision: E1.9. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2024-2047, until the rate reaches 14.8 percent in 2047. Then increase the payroll tax rate an additional 0.1 percentage point in each year from 2086-2090, until the rate reaches 15.3 percent for 2090 and later.

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

Year Current Law Provision
2020261261
2021248248
2022233233
2023217217
2024200200
2025183183
2026165167
2027148151
2028130136
2029112121
203094106
20317692
20325878
20333964
20342051
2035138
2036-1926
2037-3813
2038-591
2039-80-11
2040-101-22
2041-122-34
2042-144-45
2043-166-55
2044-188-65
2045-210-74
2046-232-83
2047-255-91
2048-277-99
2049-299-107
2050-322-114
2051-344-122
2052-367-129
2053-389-137
2054-412-145
2055-434-153
2056-457-161
2057-480-169
2058-504-177
2059-527-186
2060-551-195
2061-575-204
2062-599-214
2063-624-224
2064-650-234
2065-676-245
2066-702-256
2067-728-267
2068-755-279
2069-782-291
2070-809-303
2071-837-316
2072-866-329
2073-895-342
2074-925-356
2075-955-371
2076-986-385
2077-1018-401
2078-1051-416
2079-1084-432
2080-1119-449
2081-1154-465
2082-1190-482
2083-1226-499
2084-1263-516
2085-1300-533
2086-1337-550
2087-1374-567
2088-1411-582
2089-1448-597
2090-1484-611
2091-1520-625
2092-1554-638
2093-1589-651
2094-1623-664
2095-1657-676
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