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Detailed Single Year Tables

Description of Proposed Provision:
E1.8: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2020-2025, until the rate reaches 13.0 percent for 2025 and later.

 

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
202013.8513.05-0.80
259
0.000.090.09
202114.0213.18-0.84
245
0.000.190.19
202214.2613.30-0.95
232
0.000.280.28
202314.5413.43-1.12
219
0.000.380.38
202414.8313.56-1.27
205
0.000.470.47
202515.1013.67-1.43
191
0.000.570.57
202615.3713.71-1.66
178
0.000.570.57
202715.6213.72-1.89
164
0.000.570.57
202815.8513.74-2.11
149
0.000.570.57
202916.0613.75-2.31
134
0.000.570.57
203016.2613.77-2.50
120
0.000.570.57
203116.4513.78-2.67
104
0.000.570.57
203216.6013.79-2.81
89
0.000.570.58
203316.7413.80-2.94
73
0.000.570.58
203416.8413.81-3.04
56
0.000.570.58
203516.9213.81-3.11
39
0.000.570.58
203616.9813.82-3.17
21
0.000.570.58
203717.0213.82-3.20
3
0.000.570.58
203817.0213.82-3.20
----
-0.010.570.58
203916.9913.82-3.17
----
-0.010.570.58
204016.9613.82-3.14
----
-0.010.570.58
204116.9113.82-3.09
----
-0.010.570.58
204216.8513.82-3.04
----
-0.010.570.58
204316.8013.81-2.99
----
-0.010.570.58
204416.7513.81-2.94
----
-0.010.570.58
204516.7113.81-2.90
----
-0.010.570.58
204616.6713.81-2.86
----
-0.010.570.58
204716.6413.81-2.83
----
-0.010.570.58
204816.6113.81-2.80
----
-0.010.570.58
204916.5813.81-2.77
----
-0.010.570.58
205016.5613.80-2.75
----
-0.010.570.58
205116.5413.80-2.74
----
-0.010.570.58
205216.5413.81-2.74
----
-0.010.570.59
205316.5613.81-2.75
----
-0.010.570.59
205416.5813.81-2.77
----
-0.010.570.59
205516.6113.81-2.79
----
-0.010.570.59
205616.6413.81-2.83
----
-0.010.570.59
205716.6813.82-2.86
----
-0.020.570.59
205816.7213.82-2.90
----
-0.020.570.59
205916.7713.82-2.94
----
-0.020.570.59
206016.8113.83-2.98
----
-0.020.570.59
206116.8613.83-3.03
----
-0.020.570.59
206216.9013.83-3.07
----
-0.020.570.59
206316.9513.84-3.11
----
-0.020.570.59
206417.0013.84-3.16
----
-0.020.570.59
206517.0513.84-3.20
----
-0.020.570.59
206617.1013.85-3.25
----
-0.020.570.60
206717.1513.85-3.30
----
-0.020.570.60
206817.2013.85-3.35
----
-0.020.570.60
206917.2513.86-3.40
----
-0.020.570.60
207017.3013.86-3.44
----
-0.020.570.60
207117.3513.86-3.49
----
-0.020.570.60
207217.3913.87-3.52
----
-0.020.570.60
207317.4213.87-3.56
----
-0.020.580.60
207417.4613.87-3.58
----
-0.020.580.60
207517.4813.87-3.61
----
-0.020.580.60
207617.4913.87-3.62
----
-0.020.580.60
207717.5013.87-3.63
----
-0.020.580.60
207817.5013.87-3.62
----
-0.020.580.60
207917.4913.87-3.62
----
-0.020.580.60
208017.4913.87-3.61
----
-0.030.580.60
208117.4813.87-3.61
----
-0.030.580.60
208217.4813.87-3.61
----
-0.030.580.60
208317.4913.87-3.61
----
-0.030.580.60
208417.5013.87-3.63
----
-0.030.580.60
208517.5313.88-3.65
----
-0.030.580.60
208617.5613.88-3.68
----
-0.030.580.60
208717.5913.88-3.71
----
-0.030.580.60
208817.6313.88-3.75
----
-0.030.580.60
208917.6813.89-3.79
----
-0.030.580.60
209017.7213.89-3.83
----
-0.030.580.60
209117.7713.89-3.88
----
-0.030.580.60
209217.8213.90-3.92
----
-0.030.580.60



 

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 16.65% 14.36% -2.29%
2037
-0.01% 0.52% 0.54%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017