Proposed Provision: E3.14. Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2027. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2027, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

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

Year Current Law Provision
2026151151
2027131131
2028111119
202992108
20307498
20315789
20324080
20332371
2034764
2035-957
2036-2550
2037-4142
2038-5835
2039-7626
2040-9418
2041-1129
2042-1320
2043-151-9
2044-171-18
2045-192-28
2046-213-39
2047-234-49
2048-256-60
2049-279-71
2050-301-83
2051-324-95
2052-347-107
2053-371-119
2054-395-132
2055-420-146
2056-445-160
2057-470-174
2058-496-189
2059-522-205
2060-550-221
2061-578-238
2062-607-256
2063-636-274
2064-666-293
2065-697-313
2066-729-333
2067-761-353
2068-794-375
2069-827-397
2070-861-419
2071-896-442
2072-931-466
2073-967-491
2074-1004-516
2075-1042-542
2076-1081-569
2077-1121-596
2078-1162-625
2079-1204-654
2080-1248-684
2081-1292-715
2082-1337-747
2083-1384-779
2084-1431-812
2085-1480-846
2086-1530-881
2087-1581-916
2088-1633-952
2089-1686-989
2090-1740-1026
2091-1795-1064
2092-1850-1102
2093-1906-1141
2094-1962-1180
2095-2019-1219
2096-2075-1258
2097-2132-1297
2098-2189-1337
2099-2246-1376
2100-2303-1415
2101-2359-1455
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