Proposed Provision: E3.15. Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2026-2035). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2026-2035). Provide benefit credit for earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2025 | 169 | 169 |
| 2026 | 149 | 149 |
| 2027 | 131 | 133 |
| 2028 | 113 | 118 |
| 2029 | 95 | 105 |
| 2030 | 78 | 93 |
| 2031 | 60 | 82 |
| 2032 | 43 | 72 |
| 2033 | 26 | 63 |
| 2034 | 9 | 56 |
| 2035 | -9 | 49 |
| 2036 | -27 | 42 |
| 2037 | -45 | 34 |
| 2038 | -63 | 27 |
| 2039 | -83 | 18 |
| 2040 | -102 | 10 |
| 2041 | -122 | 1 |
| 2042 | -143 | -8 |
| 2043 | -164 | -17 |
| 2044 | -185 | -27 |
| 2045 | -206 | -36 |
| 2046 | -228 | -46 |
| 2047 | -250 | -56 |
| 2048 | -272 | -67 |
| 2049 | -295 | -77 |
| 2050 | -317 | -88 |
| 2051 | -340 | -99 |
| 2052 | -363 | -110 |
| 2053 | -386 | -122 |
| 2054 | -409 | -134 |
| 2055 | -433 | -146 |
| 2056 | -457 | -159 |
| 2057 | -481 | -172 |
| 2058 | -505 | -186 |
| 2059 | -530 | -200 |
| 2060 | -556 | -215 |
| 2061 | -582 | -230 |
| 2062 | -609 | -246 |
| 2063 | -636 | -262 |
| 2064 | -664 | -279 |
| 2065 | -692 | -296 |
| 2066 | -721 | -313 |
| 2067 | -750 | -331 |
| 2068 | -780 | -349 |
| 2069 | -810 | -368 |
| 2070 | -840 | -387 |
| 2071 | -871 | -407 |
| 2072 | -903 | -427 |
| 2073 | -935 | -448 |
| 2074 | -967 | -469 |
| 2075 | -1000 | -491 |
| 2076 | -1035 | -513 |
| 2077 | -1070 | -536 |
| 2078 | -1106 | -560 |
| 2079 | -1142 | -584 |
| 2080 | -1180 | -609 |
| 2081 | -1219 | -634 |
| 2082 | -1258 | -660 |
| 2083 | -1298 | -686 |
| 2084 | -1338 | -713 |
| 2085 | -1380 | -740 |
| 2086 | -1423 | -768 |
| 2087 | -1466 | -796 |
| 2088 | -1510 | -824 |
| 2089 | -1554 | -853 |
| 2090 | -1599 | -881 |
| 2091 | -1643 | -910 |
| 2092 | -1687 | -938 |
| 2093 | -1731 | -966 |
| 2094 | -1774 | -993 |
| 2095 | -1816 | -1020 |
| 2096 | -1858 | -1047 |
| 2097 | -1900 | -1074 |
| 2098 | -1941 | -1100 |
| 2099 | -1982 | -1127 |
| 2100 | -2022 | -1153 |
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