Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2022-2041, until the rate reaches 14.4 percent in 2041 and later.

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200200
2024183184
2025165169
2026149154
2027132141
2028115127
202998114
203081102
20316490
20324678
20332766
2034854
2035-1142
2036-3031
2037-5020
2038-7110
2039-91-1
2040-112-10
2041-133-20
2042-154-28
2043-176-37
2044-197-45
2045-218-53
2046-240-62
2047-262-70
2048-283-78
2049-305-86
2050-327-95
2051-349-103
2052-371-111
2053-393-119
2054-415-127
2055-437-136
2056-460-144
2057-482-153
2058-506-162
2059-529-172
2060-553-182
2061-578-192
2062-603-203
2063-628-213
2064-654-225
2065-680-236
2066-706-248
2067-733-260
2068-760-272
2069-788-285
2070-816-298
2071-845-312
2072-874-326
2073-905-340
2074-935-355
2075-967-370
2076-1000-386
2077-1033-402
2078-1068-418
2079-1102-435
2080-1138-451
2081-1173-468
2082-1208-485
2083-1243-502
2084-1279-519
2085-1314-536
2086-1349-552
2087-1384-570
2088-1419-587
2089-1455-605
2090-1491-623
2091-1528-641
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