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Detailed Single Year Tables

Description of Proposed Provision:
E2.1: Eliminate the taxable maximum in years 2018 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

 

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
201813.4915.121.63
287
0.002.192.19
201913.6915.271.58
288
-0.012.322.33
202013.8515.291.44
290
-0.012.332.33
202114.0115.321.31
291
-0.012.332.34
202214.2515.351.10
291
-0.012.332.33
202314.5415.360.82
290
-0.012.312.32
202414.8215.390.58
287
-0.012.312.32
202515.0915.410.32
283
-0.012.312.32
202615.3615.440.08
278
-0.012.312.32
202715.6115.46-0.15
273
-0.012.312.32
202815.8415.48-0.36
268
-0.012.312.32
202916.0515.49-0.56
262
-0.012.312.32
203016.2515.51-0.74
257
-0.012.312.33
203116.4315.52-0.91
252
-0.022.312.33
203216.5915.53-1.06
247
-0.022.312.33
203316.7215.54-1.18
241
-0.022.312.33
203416.8315.55-1.28
236
-0.022.312.33
203516.9015.55-1.35
230
-0.022.312.34
203616.9615.56-1.40
224
-0.022.312.34
203716.9915.56-1.43
218
-0.032.312.34
203816.9915.56-1.43
212
-0.032.322.34
203916.9715.56-1.40
206
-0.032.322.35
204016.9315.56-1.36
200
-0.032.322.35
204116.8815.56-1.32
195
-0.032.322.35
204216.8215.56-1.26
190
-0.042.322.35
204316.7715.56-1.21
185
-0.042.322.36
204416.7215.56-1.16
180
-0.042.322.36
204516.6815.56-1.12
176
-0.042.322.36
204616.6315.56-1.08
171
-0.042.322.37
204716.6015.56-1.04
167
-0.052.322.37
204816.5715.55-1.01
163
-0.052.322.37
204916.5415.55-0.98
159
-0.052.322.37
205016.5115.55-0.96
155
-0.052.322.38
205116.5015.55-0.94
151
-0.062.322.38
205216.5015.56-0.94
147
-0.062.322.38
205316.5115.56-0.95
143
-0.062.322.39
205416.5315.56-0.97
139
-0.062.322.39
205516.5515.56-0.99
134
-0.072.332.39
205616.5915.57-1.02
130
-0.072.332.39
205716.6315.57-1.06
125
-0.072.332.40
205816.6715.57-1.09
120
-0.072.332.40
205916.7115.58-1.13
114
-0.082.332.40
206016.7515.58-1.17
109
-0.082.332.41
206116.7915.59-1.21
103
-0.082.332.41
206216.8415.59-1.25
97
-0.082.332.41
206316.8915.59-1.29
90
-0.082.332.41
206416.9315.60-1.33
84
-0.092.332.42
206516.9815.60-1.38
77
-0.092.332.42
206617.0315.61-1.42
70
-0.092.332.42
206717.0815.61-1.47
62
-0.092.332.42
206817.1315.61-1.52
54
-0.092.342.43
206917.1815.62-1.56
46
-0.092.342.43
207017.2315.62-1.61
38
-0.092.342.43
207117.2815.63-1.65
29
-0.092.342.43
207217.3215.63-1.69
20
-0.102.342.44
207317.3515.63-1.72
10
-0.102.342.44
207417.3815.64-1.75
1
-0.102.342.44
207517.4115.64-1.77
----
-0.102.342.44
207617.4215.64-1.78
----
-0.102.342.44
207717.4315.64-1.78
----
-0.102.352.44
207817.4315.65-1.78
----
-0.102.352.45
207917.4215.65-1.77
----
-0.102.352.45
208017.4115.65-1.76
----
-0.102.352.45
208117.4115.65-1.76
----
-0.102.352.45
208217.4115.65-1.76
----
-0.102.352.45
208317.4115.65-1.76
----
-0.102.352.45
208417.4315.65-1.78
----
-0.102.352.45
208517.4515.66-1.80
----
-0.102.362.45
208617.4815.66-1.82
----
-0.102.362.46
208717.5215.66-1.86
----
-0.102.362.46
208817.5615.67-1.89
----
-0.102.362.46
208917.6015.67-1.93
----
-0.102.362.46
209017.6515.67-1.98
----
-0.102.362.46
209117.7015.68-2.02
----
-0.102.362.46
209217.7415.68-2.06
----
-0.102.372.46



 

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 16.61% 16.13% -0.48%
2074
-0.05% 2.29% 2.35%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017