Proposed Provision: E2.14. Apply OASDI 12.4 percent payroll tax rate on earnings above $250,000 starting in 2028, and tax all earnings once the current-law taxable maximum exceeds $250,000. 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 | 105 |
| 2030 | 74 | 100 |
| 2031 | 57 | 96 |
| 2032 | 40 | 93 |
| 2033 | 23 | 90 |
| 2034 | 7 | 90 |
| 2035 | -9 | 89 |
| 2036 | -25 | 89 |
| 2037 | -41 | 88 |
| 2038 | -58 | 86 |
| 2039 | -76 | 84 |
| 2040 | -94 | 82 |
| 2041 | -112 | 79 |
| 2042 | -132 | 76 |
| 2043 | -151 | 73 |
| 2044 | -171 | 70 |
| 2045 | -192 | 66 |
| 2046 | -213 | 61 |
| 2047 | -234 | 56 |
| 2048 | -256 | 51 |
| 2049 | -279 | 46 |
| 2050 | -301 | 40 |
| 2051 | -324 | 34 |
| 2052 | -347 | 27 |
| 2053 | -371 | 20 |
| 2054 | -395 | 12 |
| 2055 | -420 | 3 |
| 2056 | -445 | -6 |
| 2057 | -470 | -16 |
| 2058 | -496 | -26 |
| 2059 | -522 | -37 |
| 2060 | -550 | -49 |
| 2061 | -578 | -61 |
| 2062 | -607 | -74 |
| 2063 | -636 | -88 |
| 2064 | -666 | -102 |
| 2065 | -697 | -117 |
| 2066 | -729 | -133 |
| 2067 | -761 | -149 |
| 2068 | -794 | -165 |
| 2069 | -827 | -182 |
| 2070 | -861 | -200 |
| 2071 | -896 | -218 |
| 2072 | -931 | -237 |
| 2073 | -967 | -257 |
| 2074 | -1004 | -277 |
| 2075 | -1042 | -298 |
| 2076 | -1081 | -319 |
| 2077 | -1121 | -341 |
| 2078 | -1162 | -364 |
| 2079 | -1204 | -388 |
| 2080 | -1248 | -412 |
| 2081 | -1292 | -436 |
| 2082 | -1337 | -461 |
| 2083 | -1384 | -487 |
| 2084 | -1431 | -513 |
| 2085 | -1480 | -540 |
| 2086 | -1530 | -568 |
| 2087 | -1581 | -596 |
| 2088 | -1633 | -624 |
| 2089 | -1686 | -653 |
| 2090 | -1740 | -683 |
| 2091 | -1795 | -712 |
| 2092 | -1850 | -742 |
| 2093 | -1906 | -772 |
| 2094 | -1962 | -803 |
| 2095 | -2019 | -833 |
| 2096 | -2075 | -863 |
| 2097 | -2132 | -894 |
| 2098 | -2189 | -924 |
| 2099 | -2246 | -955 |
| 2100 | -2303 | -985 |
| 2101 | -2359 | -1016 |
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