Proposed Provision: E3.14. Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2023. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2023, 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
2022230230
2023211211
2024194204
2025177195
2026160187
2027143178
2028126169
2029109159
203091150
203174140
203257131
203339122
203421112
20353103
2036-1694
2037-3585
2038-5475
2039-7465
2040-9555
2041-11645
2042-13735
2043-15824
2044-18014
2045-2024
2046-224-7
2047-246-18
2048-268-29
2049-291-40
2050-313-51
2051-336-62
2052-359-73
2053-383-85
2054-406-97
2055-430-109
2056-453-121
2057-477-134
2058-501-146
2059-525-159
2060-550-173
2061-575-187
2062-601-201
2063-627-216
2064-654-231
2065-681-246
2066-708-262
2067-736-278
2068-764-295
2069-792-312
2070-821-329
2071-850-347
2072-880-365
2073-910-384
2074-940-403
2075-971-422
2076-1003-442
2077-1036-463
2078-1069-484
2079-1104-505
2080-1139-528
2081-1175-550
2082-1212-573
2083-1249-596
2084-1286-619
2085-1324-643
2086-1363-667
2087-1402-691
2088-1442-715
2089-1481-739
2090-1520-762
2091-1558-786
2092-1595-809
2093-1632-831
2094-1668-853
2095-1703-875
2096-1738-897
2097-1773-918
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