Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

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

Year Current Law Provision
2025169169
2026149149
2027131131
2028113113
20299595
20307878
20316060
20324343
20332626
203499
2035-9-9
2036-27-27
2037-45-45
2038-63-63
2039-83-83
2040-102-102
2041-122-122
2042-143-143
2043-164-164
2044-185-185
2045-206-206
2046-228-229
2047-250-251
2048-272-274
2049-295-298
2050-317-322
2051-340-347
2052-363-372
2053-386-398
2054-409-423
2055-433-453
2056-457-482
2057-481-512
2058-505-543
2059-530-574
2060-556-605
2061-582-637
2062-609-670
2063-636-704
2064-664-738
2065-692-772
2066-721-807
2067-750-843
2068-780-879
2069-810-915
2070-840-952
2071-871-990
2072-903-1028
2073-935-1066
2074-967-1106
2075-1000-1146
2076-1035-1187
2077-1070-1229
2078-1106-1272
2079-1142-1316
2080-1180-1361
2081-1219-1407
2082-1258-1454
2083-1298-1502
2084-1338-1551
2085-1380-1601
2086-1423-1652
2087-1466-1704
2088-1510-1757
2089-1554-1810
2090-1599-1863
2091-1643-1916
2092-1687-1969
2093-1731-2022
2094-1774-2074
2095-1816-2125
2096-1858-2176
2097-1900-2226
2098-1941-2276
2099-1982-2325
2100-2022-2374
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