Proposed Provision: E2.13. Apply OASDI 12.4 percent payroll tax rate on earnings above $400,000 starting in 2028, and tax all earnings once the current-law taxable maximum exceeds $400,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2027 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2026 | 151 | 151 |
| 2027 | 131 | 131 |
| 2028 | 111 | 111 |
| 2029 | 92 | 101 |
| 2030 | 74 | 92 |
| 2031 | 57 | 84 |
| 2032 | 40 | 76 |
| 2033 | 23 | 70 |
| 2034 | 7 | 64 |
| 2035 | -9 | 59 |
| 2036 | -25 | 54 |
| 2037 | -41 | 48 |
| 2038 | -58 | 43 |
| 2039 | -76 | 38 |
| 2040 | -94 | 32 |
| 2041 | -112 | 27 |
| 2042 | -132 | 22 |
| 2043 | -151 | 16 |
| 2044 | -171 | 11 |
| 2045 | -192 | 5 |
| 2046 | -213 | 0 |
| 2047 | -234 | -5 |
| 2048 | -256 | -11 |
| 2049 | -279 | -17 |
| 2050 | -301 | -23 |
| 2051 | -324 | -30 |
| 2052 | -347 | -37 |
| 2053 | -371 | -44 |
| 2054 | -395 | -53 |
| 2055 | -420 | -61 |
| 2056 | -445 | -71 |
| 2057 | -470 | -81 |
| 2058 | -496 | -91 |
| 2059 | -522 | -103 |
| 2060 | -550 | -115 |
| 2061 | -578 | -127 |
| 2062 | -607 | -141 |
| 2063 | -636 | -155 |
| 2064 | -666 | -169 |
| 2065 | -697 | -184 |
| 2066 | -729 | -200 |
| 2067 | -761 | -216 |
| 2068 | -794 | -233 |
| 2069 | -827 | -251 |
| 2070 | -861 | -269 |
| 2071 | -896 | -287 |
| 2072 | -931 | -306 |
| 2073 | -967 | -326 |
| 2074 | -1004 | -347 |
| 2075 | -1042 | -368 |
| 2076 | -1081 | -390 |
| 2077 | -1121 | -413 |
| 2078 | -1162 | -436 |
| 2079 | -1204 | -460 |
| 2080 | -1248 | -485 |
| 2081 | -1292 | -510 |
| 2082 | -1337 | -536 |
| 2083 | -1384 | -562 |
| 2084 | -1431 | -589 |
| 2085 | -1480 | -617 |
| 2086 | -1530 | -645 |
| 2087 | -1581 | -674 |
| 2088 | -1633 | -703 |
| 2089 | -1686 | -733 |
| 2090 | -1740 | -764 |
| 2091 | -1795 | -794 |
| 2092 | -1850 | -825 |
| 2093 | -1906 | -856 |
| 2094 | -1962 | -887 |
| 2095 | -2019 | -919 |
| 2096 | -2075 | -950 |
| 2097 | -2132 | -981 |
| 2098 | -2189 | -1013 |
| 2099 | -2246 | -1044 |
| 2100 | -2303 | -1076 |
| 2101 | -2359 | -1107 |
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