Proposed Provision: Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2012-2021). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2012-2021). Provide benefit credit on earnings taxed up to the revised taxable maximum.

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

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201112.512.513.313.3
201212.913.113.213.2
201312.913.313.213.2
201412.913.613.213.2
201512.913.813.213.2
201613.014.013.313.3
201713.014.213.513.5
201813.014.313.613.6
201913.014.513.913.9
202013.114.614.214.2
202113.114.814.514.5
202213.114.814.814.8
202313.114.815.115.1
202413.114.815.415.4
202513.114.815.715.7
202613.214.915.916.0
202713.214.916.116.2
202813.214.916.316.4
202913.214.916.516.6
203013.214.916.716.7
203113.214.916.816.8
203213.214.916.916.9
203313.214.916.917.0
203413.215.017.017.1
203513.215.017.017.1
203613.215.017.017.2
203713.215.017.017.2
203813.215.017.017.2
203913.215.017.017.1
204013.215.017.017.1
204113.215.016.917.1
204213.215.016.917.0
204313.215.016.817.0
204413.215.016.817.0
204513.215.016.817.0
204613.215.016.817.0
204713.215.016.717.0
204813.215.016.717.0
204913.215.016.716.9
205013.215.016.716.9
205113.215.016.716.9
205213.215.016.717.0
205313.215.016.717.0
205413.215.016.717.0
205513.315.016.717.0
205613.315.016.717.1
205713.315.016.817.1
205813.315.016.817.1
205913.315.016.817.1
206013.315.016.817.1
206113.315.016.817.2
206213.315.016.817.2
206313.315.016.817.2
206413.315.016.817.2
206513.315.116.917.2
206613.315.116.917.3
206713.315.116.917.3
206813.315.116.917.3
206913.315.117.017.4
207013.315.117.017.4
207113.315.117.017.4
207213.315.117.117.5
207313.315.117.117.5
207413.315.117.117.6
207513.315.117.217.6
207613.315.117.217.6
207713.315.117.217.7
207813.315.117.317.7
207913.315.117.317.8
208013.315.117.417.8
208113.315.117.417.8
208213.315.117.417.9
208313.315.117.517.9
208413.315.117.518.0
208513.315.117.618.0
208613.315.117.618.0
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