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Detailed Single Year Tables

Description of Proposed Provision:
H6: Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Current Law
  Expressed as a percentage of
current-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
current-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.23
230
0.000.000.00
202314.5413.05-1.50
215
0.000.000.00
202414.8313.08-1.74
199
0.000.000.00
202515.1013.10-2.00
182
0.000.000.00
202615.3713.14-2.24
165
0.000.000.00
202715.6213.15-2.47
148
0.000.000.00
202815.8513.17-2.69
130
0.000.000.00
202916.0713.18-2.88
112
0.000.000.00
203016.2713.20-3.07
94
0.000.000.00
203116.4513.21-3.24
75
0.000.000.00
203216.6113.22-3.39
56
0.000.000.00
203316.7413.23-3.51
37
0.000.000.00
203416.8513.23-3.61
16
0.000.000.00
203516.9313.24-3.69
----
0.000.000.00
203616.9913.24-3.74
----
0.000.000.00
203717.0213.25-3.77
----
0.000.000.00
203817.0213.25-3.77
----
0.000.000.00
203917.0013.25-3.75
----
0.000.000.00
204016.9613.25-3.71
----
0.000.000.00
204116.9113.25-3.67
----
0.000.000.00
204216.8613.24-3.62
----
0.000.000.00
204316.8113.24-3.57
----
0.000.000.00
204416.7613.24-3.52
----
0.000.000.00
204516.7213.19-3.53
----
0.00-0.05-0.05
204616.6813.14-3.54
----
0.00-0.09-0.09
204716.6513.10-3.55
----
0.00-0.13-0.13
204816.6213.06-3.55
----
0.00-0.17-0.17
204916.5913.03-3.56
----
0.00-0.21-0.21
205016.5712.99-3.57
----
0.00-0.24-0.24
205116.5612.96-3.59
----
0.00-0.27-0.27
205216.5612.94-3.62
----
0.00-0.29-0.29
205316.5712.91-3.65
----
0.00-0.32-0.32
205416.5912.37-4.22
----
0.00-0.86-0.86
205516.6212.37-4.25
----
0.00-0.86-0.87
205616.6612.37-4.28
----
0.00-0.87-0.87
205716.7012.37-4.33
----
0.00-0.87-0.87
205816.7412.37-4.37
----
0.00-0.87-0.87
205916.7912.37-4.41
----
0.00-0.87-0.88
206016.8312.37-4.46
----
0.00-0.88-0.88
206116.8812.37-4.50
----
0.00-0.88-0.88
206216.9312.38-4.55
----
0.00-0.88-0.89
206316.9712.38-4.60
----
0.00-0.89-0.89
206417.0212.38-4.65
----
0.00-0.89-0.89
206517.0712.38-4.69
----
0.00-0.89-0.90
206617.1212.38-4.75
----
0.00-0.90-0.90
206717.1712.38-4.80
----
0.00-0.90-0.90
206817.2212.38-4.85
----
0.00-0.90-0.91
206917.2812.37-4.90
----
0.00-0.91-0.91
207017.3312.37-4.95
----
0.00-0.91-0.91
207117.3812.37-5.00
----
0.00-0.91-0.92
207217.4212.37-5.04
----
0.00-0.92-0.92
207317.4512.37-5.08
----
0.00-0.92-0.92
207417.4812.37-5.11
----
0.00-0.92-0.92
207517.5112.37-5.13
----
0.00-0.92-0.92
207617.5212.37-5.15
----
0.00-0.92-0.93
207717.5312.37-5.15
----
0.00-0.92-0.93
207817.5312.37-5.15
----
0.00-0.92-0.93
207917.5212.37-5.15
----
0.00-0.92-0.93
208017.5112.37-5.14
----
0.00-0.92-0.93
208117.5112.37-5.13
----
0.00-0.92-0.93
208217.5112.37-5.13
----
0.00-0.92-0.92
208317.5212.38-5.14
----
0.00-0.92-0.93
208417.5312.38-5.16
----
0.00-0.92-0.93
208517.5512.38-5.18
----
0.00-0.92-0.93
208617.5812.38-5.21
----
0.00-0.93-0.93
208717.6212.38-5.24
----
0.00-0.93-0.93
208817.6612.38-5.28
----
0.00-0.93-0.93
208917.7012.38-5.33
----
0.00-0.93-0.94
209017.7512.38-5.38
----
0.00-0.94-0.94
209117.8012.38-5.42
----
0.00-0.94-0.94
209217.8412.38-5.47
----
0.00-0.94-0.94



 

Summarized Estimates

 
  Proposal
  Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2017 Trustees Report.
2017-2091 16.67% 13.43% -3.24%
2034
0.00% -0.41% -0.41%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017