Proposed Provision: Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2014. For the employee payroll tax (6.2 percent) and for benefit calculation purposes, beginning in 2014, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

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

Year Present Law Provision
2013330330
2014315315
2015301308
2016286301
2017271295
2018257289
2019244285
2020231279
2021218274
2022204267
2023189260
2024173253
2025158245
2026142237
2027125228
2028108220
202990211
203071201
203152191
203231180
203311169
2034-11157
2035-32146
2036-55134
2037-78122
2038-101110
2039-12498
2040-14886
2041-17275
2042-19663
2043-22051
2044-24540
2045-26928
2046-29416
2047-3195
2048-345-7
2049-371-19
2050-397-31
2051-423-43
2052-449-55
2053-476-67
2054-502-80
2055-530-93
2056-557-106
2057-585-120
2058-613-134
2059-642-148
2060-671-163
2061-701-178
2062-732-194
2063-763-210
2064-794-226
2065-826-243
2066-859-260
2067-892-278
2068-925-296
2069-959-314
2070-993-333
2071-1028-352
2072-1064-372
2073-1101-392
2074-1139-413
2075-1178-435
2076-1217-456
2077-1258-479
2078-1299-501
2079-1340-524
2080-1382-547
2081-1424-571
2082-1466-594
2083-1508-618
2084-1550-641
2085-1592-666
2086-1635-690
2087-1678-715
2088-1722-740
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