Proposed Provision: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200200
2024183183
2025165167
2026149151
2027132136
2028115120
202998104
20308188
20316472
20324656
20332739
2034821
2035-113
2036-30-15
2037-50-33
2038-71-52
2039-91-72
2040-112-91
2041-133-111
2042-154-130
2043-176-150
2044-197-170
2045-218-190
2046-240-210
2047-262-230
2048-283-250
2049-305-270
2050-327-290
2051-349-311
2052-371-331
2053-393-351
2054-415-372
2055-437-393
2056-460-413
2057-482-435
2058-506-456
2059-529-478
2060-553-501
2061-578-523
2062-603-547
2063-628-570
2064-654-594
2065-680-619
2066-706-643
2067-733-669
2068-760-694
2069-788-720
2070-816-747
2071-845-773
2072-874-801
2073-905-829
2074-935-858
2075-967-888
2076-1000-919
2077-1033-950
2078-1068-982
2079-1102-1015
2080-1138-1048
2081-1173-1081
2082-1208-1114
2083-1243-1147
2084-1279-1180
2085-1314-1213
2086-1349-1246
2087-1384-1279
2088-1419-1313
2089-1455-1346
2090-1491-1380
2091-1528-1415
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