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Detailed Single Year Tables

Description of Proposed Provision:
E3.15: Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2018-2027). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2018-2027). Provide benefit credit for earnings taxed up to the revised 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
201813.4913.17-0.31
287
0.000.240.24
201913.7013.42-0.28
275
0.000.470.47
202013.8513.65-0.21
264
0.000.680.68
202114.0213.86-0.15
254
0.000.870.87
202214.2614.06-0.20
245
0.001.041.04
202314.5414.23-0.31
237
0.001.181.18
202414.8314.40-0.43
228
0.001.321.32
202515.1014.55-0.56
219
0.001.441.44
202615.3814.69-0.69
210
0.011.561.55
202715.6314.81-0.81
201
0.011.661.65
202815.8714.83-1.03
193
0.011.671.65
202916.0814.85-1.23
184
0.021.671.65
203016.2914.87-1.42
175
0.021.671.65
203116.4814.88-1.60
166
0.031.671.64
203216.6414.89-1.75
157
0.041.671.64
203316.7814.90-1.88
147
0.041.671.63
203416.9014.91-1.99
137
0.051.681.63
203516.9814.92-2.07
127
0.061.681.62
203617.0514.92-2.13
116
0.061.681.62
203717.0914.93-2.16
104
0.071.681.61
203817.1014.93-2.17
93
0.081.681.60
203917.0814.93-2.15
82
0.091.681.60
204017.0614.93-2.12
70
0.091.691.59
204117.0214.93-2.08
59
0.101.691.59
204216.9714.93-2.04
48
0.111.691.58
204316.9214.93-1.99
37
0.121.691.57
204416.8914.93-1.95
26
0.131.691.57
204516.8514.93-1.92
15
0.141.691.56
204616.8214.93-1.89
4
0.141.701.55
204716.8014.93-1.87
----
0.151.701.54
204816.7814.93-1.85
----
0.161.701.54
204916.7614.93-1.83
----
0.171.701.53
205016.7514.94-1.81
----
0.181.701.52
205116.7514.94-1.81
----
0.191.711.51
205216.7614.94-1.82
----
0.201.711.51
205316.7814.94-1.84
----
0.211.711.50
205416.8114.95-1.86
----
0.221.711.49
205516.8514.95-1.90
----
0.231.711.48
205616.9014.96-1.94
----
0.241.721.47
205716.9514.96-1.99
----
0.251.721.47
205817.0014.97-2.04
----
0.261.721.46
205917.0614.97-2.09
----
0.271.721.45
206017.1114.98-2.14
----
0.281.721.44
206117.1714.98-2.19
----
0.291.731.43
206217.2214.99-2.24
----
0.301.731.43
206317.2814.99-2.29
----
0.311.731.42
206417.3415.00-2.34
----
0.321.731.41
206517.4015.00-2.39
----
0.331.731.41
206617.4515.01-2.45
----
0.341.741.40
206717.5115.01-2.50
----
0.341.741.39
206817.5715.02-2.56
----
0.351.741.39
206917.6315.02-2.61
----
0.361.741.38
207017.6915.03-2.66
----
0.371.741.38
207117.7515.03-2.71
----
0.371.751.37
207217.7915.04-2.75
----
0.381.751.37
207317.8315.04-2.79
----
0.381.751.37
207417.8715.05-2.82
----
0.391.751.36
207517.9015.05-2.85
----
0.391.751.36
207617.9215.05-2.86
----
0.401.761.36
207717.9315.06-2.87
----
0.401.761.36
207817.9315.06-2.87
----
0.401.761.35
207917.9215.06-2.87
----
0.411.761.35
208017.9215.06-2.86
----
0.411.761.35
208117.9215.06-2.86
----
0.411.761.35
208217.9215.06-2.86
----
0.411.761.35
208317.9315.06-2.86
----
0.411.771.35
208417.9415.07-2.88
----
0.421.771.35
208517.9715.07-2.90
----
0.421.771.35
208618.0015.07-2.93
----
0.421.771.35
208718.0415.07-2.96
----
0.421.771.35
208818.0815.08-3.00
----
0.421.771.35
208918.1315.08-3.04
----
0.431.771.35
209018.1815.09-3.09
----
0.431.781.35
209118.2315.09-3.13
----
0.431.781.35
209218.2715.10-3.18
----
0.431.781.35



 

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 16.86% 15.42% -1.43%
2046
0.19% 1.58% 1.39%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017