Proposed Provision: E3.11. Beginning in 2028, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $438,600 in 2028), with the threshold wage-indexed after 2028. Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2020261261
2021248248
2022233233
2023217217
2024200200
2025183183
2026165165
2027148148
2028130130
2029112113
20309496
20317679
20325862
20333945
20342027
2035110
2036-19-9
2037-38-28
2038-59-47
2039-80-66
2040-101-86
2041-122-106
2042-144-126
2043-166-147
2044-188-168
2045-210-188
2046-232-209
2047-255-230
2048-277-251
2049-299-272
2050-322-293
2051-344-314
2052-367-335
2053-389-356
2054-412-377
2055-434-399
2056-457-420
2057-480-442
2058-504-464
2059-527-486
2060-551-508
2061-575-531
2062-599-554
2063-624-578
2064-650-602
2065-676-626
2066-702-651
2067-728-676
2068-755-701
2069-782-727
2070-809-753
2071-837-779
2072-866-807
2073-895-834
2074-925-862
2075-955-891
2076-986-921
2077-1018-951
2078-1051-982
2079-1084-1014
2080-1119-1046
2081-1154-1080
2082-1190-1114
2083-1226-1148
2084-1263-1183
2085-1300-1218
2086-1337-1253
2087-1374-1289
2088-1411-1324
2089-1448-1358
2090-1484-1393
2091-1520-1426
2092-1554-1459
2093-1589-1492
2094-1623-1524
2095-1657-1556
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