Proposed Provision: Apply OASDI payroll tax rate on earnings above $400,000 starting in 2016, and tax all earnings once the current-law taxable maximum exceeds $400,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2015 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2014 | 320 | 320 |
| 2015 | 306 | 306 |
| 2016 | 292 | 292 |
| 2017 | 277 | 284 |
| 2018 | 262 | 276 |
| 2019 | 248 | 268 |
| 2020 | 233 | 260 |
| 2021 | 219 | 253 |
| 2022 | 203 | 244 |
| 2023 | 187 | 235 |
| 2024 | 171 | 225 |
| 2025 | 154 | 216 |
| 2026 | 137 | 205 |
| 2027 | 119 | 195 |
| 2028 | 101 | 185 |
| 2029 | 83 | 175 |
| 2030 | 64 | 164 |
| 2031 | 44 | 153 |
| 2032 | 23 | 142 |
| 2033 | 2 | 130 |
| 2034 | -20 | 119 |
| 2035 | -42 | 107 |
| 2036 | -65 | 95 |
| 2037 | -88 | 84 |
| 2038 | -112 | 72 |
| 2039 | -136 | 61 |
| 2040 | -160 | 50 |
| 2041 | -185 | 40 |
| 2042 | -210 | 29 |
| 2043 | -235 | 20 |
| 2044 | -260 | 11 |
| 2045 | -285 | 2 |
| 2046 | -310 | -7 |
| 2047 | -336 | -15 |
| 2048 | -362 | -23 |
| 2049 | -388 | -31 |
| 2050 | -415 | -40 |
| 2051 | -442 | -48 |
| 2052 | -468 | -57 |
| 2053 | -495 | -65 |
| 2054 | -523 | -74 |
| 2055 | -550 | -83 |
| 2056 | -578 | -92 |
| 2057 | -606 | -102 |
| 2058 | -635 | -112 |
| 2059 | -664 | -122 |
| 2060 | -694 | -133 |
| 2061 | -725 | -144 |
| 2062 | -756 | -155 |
| 2063 | -787 | -167 |
| 2064 | -819 | -179 |
| 2065 | -852 | -192 |
| 2066 | -885 | -204 |
| 2067 | -918 | -217 |
| 2068 | -952 | -231 |
| 2069 | -987 | -245 |
| 2070 | -1022 | -259 |
| 2071 | -1057 | -273 |
| 2072 | -1094 | -288 |
| 2073 | -1132 | -304 |
| 2074 | -1171 | -320 |
| 2075 | -1210 | -336 |
| 2076 | -1251 | -353 |
| 2077 | -1293 | -370 |
| 2078 | -1335 | -387 |
| 2079 | -1378 | -404 |
| 2080 | -1421 | -422 |
| 2081 | -1464 | -440 |
| 2082 | -1507 | -458 |
| 2083 | -1550 | -475 |
| 2084 | -1593 | -494 |
| 2085 | -1636 | -512 |
| 2086 | -1680 | -530 |
| 2087 | -1724 | -549 |
| 2088 | -1769 | -569 |
| 2089 | -1814 | -588 |
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