Proposed Provision: Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2016-2063, and a 3 percent rate for years 2064 and later. 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
2015301301
2016286286
2017271274
2018257263
2019244252
2020231242
2021218231
2022204219
2023189207
2024173194
2025158181
2026142167
2027125153
2028108138
202990122
203071106
20315289
20323172
20331154
2034-1135
2035-3216
2036-55-3
2037-78-23
2038-101-43
2039-124-64
2040-148-84
2041-172-105
2042-196-126
2043-220-147
2044-245-168
2045-269-189
2046-294-211
2047-319-232
2048-345-254
2049-371-276
2050-397-299
2051-423-321
2052-449-344
2053-476-367
2054-502-390
2055-530-413
2056-557-437
2057-585-461
2058-613-486
2059-642-511
2060-671-536
2061-701-562
2062-732-589
2063-763-616
2064-794-643
2065-826-670
2066-859-697
2067-892-725
2068-925-753
2069-959-782
2070-993-811
2071-1028-840
2072-1064-871
2073-1101-902
2074-1139-934
2075-1178-967
2076-1217-1000
2077-1258-1034
2078-1299-1069
2079-1340-1104
2080-1382-1140
2081-1424-1175
2082-1466-1211
2083-1508-1246
2084-1550-1282
2085-1592-1318
2086-1635-1354
2087-1678-1391
2088-1722-1428
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