Proposed Provision: B7.7. Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2031 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2031, based on changes in the SSA average wage index.
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 | 92 |
| 2030 | 74 | 74 |
| 2031 | 57 | 57 |
| 2032 | 40 | 40 |
| 2033 | 23 | 24 |
| 2034 | 7 | 8 |
| 2035 | -9 | -8 |
| 2036 | -25 | -24 |
| 2037 | -41 | -40 |
| 2038 | -58 | -56 |
| 2039 | -76 | -72 |
| 2040 | -94 | -89 |
| 2041 | -112 | -107 |
| 2042 | -132 | -124 |
| 2043 | -151 | -142 |
| 2044 | -171 | -160 |
| 2045 | -192 | -178 |
| 2046 | -213 | -196 |
| 2047 | -234 | -215 |
| 2048 | -256 | -234 |
| 2049 | -279 | -253 |
| 2050 | -301 | -272 |
| 2051 | -324 | -292 |
| 2052 | -347 | -312 |
| 2053 | -371 | -332 |
| 2054 | -395 | -352 |
| 2055 | -420 | -373 |
| 2056 | -445 | -394 |
| 2057 | -470 | -415 |
| 2058 | -496 | -437 |
| 2059 | -522 | -460 |
| 2060 | -550 | -483 |
| 2061 | -578 | -508 |
| 2062 | -607 | -533 |
| 2063 | -636 | -558 |
| 2064 | -666 | -584 |
| 2065 | -697 | -611 |
| 2066 | -729 | -639 |
| 2067 | -761 | -667 |
| 2068 | -794 | -696 |
| 2069 | -827 | -725 |
| 2070 | -861 | -755 |
| 2071 | -896 | -785 |
| 2072 | -931 | -816 |
| 2073 | -967 | -848 |
| 2074 | -1004 | -881 |
| 2075 | -1042 | -914 |
| 2076 | -1081 | -949 |
| 2077 | -1121 | -984 |
| 2078 | -1162 | -1021 |
| 2079 | -1204 | -1059 |
| 2080 | -1248 | -1097 |
| 2081 | -1292 | -1137 |
| 2082 | -1337 | -1177 |
| 2083 | -1384 | -1218 |
| 2084 | -1431 | -1260 |
| 2085 | -1480 | -1304 |
| 2086 | -1530 | -1348 |
| 2087 | -1581 | -1394 |
| 2088 | -1633 | -1440 |
| 2089 | -1686 | -1488 |
| 2090 | -1740 | -1536 |
| 2091 | -1795 | -1584 |
| 2092 | -1850 | -1633 |
| 2093 | -1906 | -1683 |
| 2094 | -1962 | -1733 |
| 2095 | -2019 | -1783 |
| 2096 | -2075 | -1833 |
| 2097 | -2132 | -1884 |
| 2098 | -2189 | -1934 |
| 2099 | -2246 | -1985 |
| 2100 | -2303 | -2035 |
| 2101 | -2359 | -2085 |
back