Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2027-2046, until the rate reaches 14.4 percent in 2046 and later.

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

Year Current Law Provision
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122123
2029104105
20308588
20316671
20324655
20332739
2034723
2035-137
2036-33-8
2037-54-24
2038-76-39
2039-97-53
2040-119-68
2041-142-82
2042-165-96
2043-188-110
2044-211-123
2045-235-136
2046-258-148
2047-282-160
2048-306-172
2049-330-184
2050-354-196
2051-378-208
2052-403-220
2053-427-233
2054-452-245
2055-477-258
2056-502-271
2057-527-284
2058-552-297
2059-578-310
2060-604-324
2061-630-338
2062-657-352
2063-684-367
2064-712-382
2065-740-397
2066-768-413
2067-796-428
2068-825-445
2069-855-461
2070-884-478
2071-914-495
2072-945-512
2073-976-530
2074-1007-548
2075-1039-566
2076-1071-585
2077-1105-605
2078-1139-625
2079-1175-646
2080-1211-667
2081-1248-689
2082-1286-710
2083-1324-732
2084-1363-755
2085-1403-777
2086-1443-800
2087-1483-823
2088-1524-846
2089-1564-868
2090-1604-890
2091-1643-911
2092-1681-932
2093-1718-952
2094-1754-972
2095-1789-991
2096-1825-1010
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