Proposed Provision: Increase the taxable maximum by an additional 2 percent per year beginning in 2015 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum levels. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201312.712.713.913.9
201412.812.814.014.0
201512.912.914.014.0
201612.913.013.913.9
201712.913.013.913.9
201812.913.113.913.9
201912.913.114.114.1
202013.013.214.314.3
202113.013.314.414.4
202213.013.314.714.7
202313.013.415.015.0
202413.113.415.215.2
202513.113.515.515.5
202613.113.515.715.7
202713.113.615.915.9
202813.113.616.116.1
202913.113.616.316.3
203013.113.716.516.5
203113.113.716.616.7
203213.113.716.816.8
203313.213.816.916.9
203413.213.816.917.0
203513.213.817.017.0
203613.213.917.017.0
203713.213.917.017.1
203813.213.917.017.1
203913.213.917.017.0
204013.214.017.017.0
204113.214.016.917.0
204213.214.016.917.0
204313.214.016.916.9
204413.214.116.816.9
204513.214.116.816.9
204613.214.116.816.9
204713.214.116.816.9
204813.214.116.816.9
204913.214.216.816.9
205013.214.216.816.9
205113.214.216.816.9
205213.214.216.816.9
205313.214.216.817.0
205413.214.216.917.0
205513.214.216.917.1
205613.214.217.017.1
205713.214.217.017.2
205813.214.317.017.2
205913.214.317.117.3
206013.214.317.117.3
206113.214.317.217.4
206213.214.317.217.4
206313.214.317.317.5
206413.214.317.317.5
206513.214.317.417.6
206613.214.317.417.6
206713.214.317.417.7
206813.214.317.517.7
206913.214.317.517.8
207013.214.317.617.8
207113.214.317.617.9
207213.214.317.717.9
207313.214.317.718.0
207413.214.317.718.0
207513.214.317.718.0
207613.214.317.718.0
207713.214.317.718.0
207813.214.317.718.0
207913.214.317.718.0
208013.214.317.818.1
208113.214.317.818.1
208213.214.317.818.1
208313.214.317.818.1
208413.214.317.918.2
208513.214.317.918.2
208613.214.318.018.3
208713.214.318.018.3
208813.214.418.118.4
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