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 2030 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 2030, based on changes in the SSA average wage index.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2025 | 169 | 169 |
| 2026 | 149 | 149 |
| 2027 | 131 | 131 |
| 2028 | 113 | 113 |
| 2029 | 95 | 95 |
| 2030 | 78 | 78 |
| 2031 | 60 | 61 |
| 2032 | 43 | 43 |
| 2033 | 26 | 26 |
| 2034 | 9 | 9 |
| 2035 | -9 | -8 |
| 2036 | -27 | -25 |
| 2037 | -45 | -42 |
| 2038 | -63 | -60 |
| 2039 | -83 | -78 |
| 2040 | -102 | -96 |
| 2041 | -122 | -115 |
| 2042 | -143 | -133 |
| 2043 | -164 | -152 |
| 2044 | -185 | -171 |
| 2045 | -206 | -190 |
| 2046 | -228 | -209 |
| 2047 | -250 | -228 |
| 2048 | -272 | -247 |
| 2049 | -295 | -266 |
| 2050 | -317 | -285 |
| 2051 | -340 | -305 |
| 2052 | -363 | -324 |
| 2053 | -386 | -344 |
| 2054 | -409 | -364 |
| 2055 | -433 | -384 |
| 2056 | -457 | -404 |
| 2057 | -481 | -424 |
| 2058 | -505 | -445 |
| 2059 | -530 | -466 |
| 2060 | -556 | -488 |
| 2061 | -582 | -511 |
| 2062 | -609 | -534 |
| 2063 | -636 | -557 |
| 2064 | -664 | -581 |
| 2065 | -692 | -606 |
| 2066 | -721 | -631 |
| 2067 | -750 | -656 |
| 2068 | -780 | -682 |
| 2069 | -810 | -707 |
| 2070 | -840 | -734 |
| 2071 | -871 | -761 |
| 2072 | -903 | -788 |
| 2073 | -935 | -816 |
| 2074 | -967 | -844 |
| 2075 | -1000 | -873 |
| 2076 | -1035 | -903 |
| 2077 | -1070 | -934 |
| 2078 | -1106 | -965 |
| 2079 | -1142 | -998 |
| 2080 | -1180 | -1031 |
| 2081 | -1219 | -1064 |
| 2082 | -1258 | -1099 |
| 2083 | -1298 | -1133 |
| 2084 | -1338 | -1169 |
| 2085 | -1380 | -1206 |
| 2086 | -1423 | -1243 |
| 2087 | -1466 | -1281 |
| 2088 | -1510 | -1319 |
| 2089 | -1554 | -1358 |
| 2090 | -1599 | -1396 |
| 2091 | -1643 | -1435 |
| 2092 | -1687 | -1473 |
| 2093 | -1731 | -1511 |
| 2094 | -1774 | -1548 |
| 2095 | -1816 | -1585 |
| 2096 | -1858 | -1621 |
| 2097 | -1900 | -1657 |
| 2098 | -1941 | -1693 |
| 2099 | -1982 | -1728 |
| 2100 | -2022 | -1763 |
back