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Summary Measures and Graphs

Description of Proposed Provision:
Tax Reform for Business: Establish a value added tax of 3.0 percent for 2016 and 6.5 percent for 2017 and later. Starting in 2016, reduce the corporate income tax rate from 35 to 27 percent.

Estimates based on the intermediate assumptions of the 2014 Trustees Report

Summary Measures
Present Law
[percent of payroll]
Change from present law
[percent of payroll]
Shortfall Eliminated
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
-2.88 -4.90 -0.02 0.19 -1% 4%


graph of OASDI cost rates and income rates by year, under
                 present law and provision. click on graph to view underlying
                 data. graph of OASDI trust fund ratio by year, under present law
                 and provision. click on graph to view underlying data.
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Last reviewed or modified September 18, 2014