Proposed Provision: 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 2020 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 2020, based on changes in the SSA average wage index.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2012 | 340 | 340 |
| 2013 | 329 | 329 |
| 2014 | 315 | 315 |
| 2015 | 302 | 302 |
| 2016 | 290 | 290 |
| 2017 | 277 | 277 |
| 2018 | 265 | 265 |
| 2019 | 253 | 253 |
| 2020 | 240 | 240 |
| 2021 | 227 | 227 |
| 2022 | 212 | 213 |
| 2023 | 197 | 198 |
| 2024 | 181 | 182 |
| 2025 | 164 | 166 |
| 2026 | 147 | 150 |
| 2027 | 129 | 133 |
| 2028 | 110 | 115 |
| 2029 | 90 | 96 |
| 2030 | 70 | 77 |
| 2031 | 49 | 57 |
| 2032 | 27 | 36 |
| 2033 | 5 | 15 |
| 2034 | -18 | -7 |
| 2035 | -41 | -29 |
| 2036 | -65 | -51 |
| 2037 | -89 | -73 |
| 2038 | -114 | -96 |
| 2039 | -138 | -120 |
| 2040 | -163 | -143 |
| 2041 | -189 | -167 |
| 2042 | -215 | -191 |
| 2043 | -240 | -215 |
| 2044 | -266 | -239 |
| 2045 | -292 | -263 |
| 2046 | -319 | -288 |
| 2047 | -346 | -313 |
| 2048 | -373 | -338 |
| 2049 | -400 | -363 |
| 2050 | -428 | -389 |
| 2051 | -456 | -414 |
| 2052 | -484 | -440 |
| 2053 | -512 | -466 |
| 2054 | -540 | -492 |
| 2055 | -569 | -519 |
| 2056 | -598 | -546 |
| 2057 | -628 | -573 |
| 2058 | -657 | -600 |
| 2059 | -688 | -629 |
| 2060 | -719 | -657 |
| 2061 | -750 | -686 |
| 2062 | -782 | -715 |
| 2063 | -814 | -745 |
| 2064 | -847 | -775 |
| 2065 | -880 | -805 |
| 2066 | -913 | -836 |
| 2067 | -946 | -867 |
| 2068 | -980 | -898 |
| 2069 | -1014 | -929 |
| 2070 | -1049 | -961 |
| 2071 | -1084 | -993 |
| 2072 | -1120 | -1026 |
| 2073 | -1156 | -1060 |
| 2074 | -1193 | -1094 |
| 2075 | -1230 | -1128 |
| 2076 | -1268 | -1164 |
| 2077 | -1307 | -1199 |
| 2078 | -1346 | -1235 |
| 2079 | -1385 | -1272 |
| 2080 | -1425 | -1308 |
| 2081 | -1465 | -1346 |
| 2082 | -1505 | -1383 |
| 2083 | -1547 | -1421 |
| 2084 | -1588 | -1460 |
| 2085 | -1631 | -1499 |
| 2086 | -1673 | -1539 |
| 2087 | -1717 | -1579 |
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