Proposed Provision: Eliminate the taxable maximum in years 2014 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.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2013330330
2014315315
2015301315
2016286316
2017271317
2018257319
2019244321
2020231322
2021218323
2022204322
2023189321
2024173319
2025158316
2026142314
2027125311
2028108308
202990305
203071301
203152296
203231291
203311286
2034-11281
2035-32275
2036-55270
2037-78264
2038-101259
2039-124254
2040-148249
2041-172244
2042-196240
2043-220235
2044-245231
2045-269226
2046-294222
2047-319218
2048-345213
2049-371209
2050-397205
2051-423200
2052-449196
2053-476191
2054-502186
2055-530181
2056-557175
2057-585169
2058-613163
2059-642157
2060-671150
2061-701143
2062-732136
2063-763129
2064-794121
2065-826113
2066-859104
2067-89296
2068-92587
2069-95977
2070-99368
2071-102858
2072-106448
2073-110137
2074-113927
2075-117816
2076-12175
2077-1258-6
2078-1299-18
2079-1340-29
2080-1382-41
2081-1424-53
2082-1466-65
2083-1508-77
2084-1550-90
2085-1592-102
2086-1635-115
2087-1678-129
2088-1722-143
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