Proposed Provision: Increase the taxable maximum by an additional 2 percent per year beginning in 2016 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.

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

Year Present Law Provision
2014320320
2015306306
2016292292
2017277277
2018262263
2019248249
2020233236
2021219222
2022203209
2023187194
2024171180
2025154165
2026137150
2027119134
2028101119
202983103
20306487
20314470
20322352
2033234
2034-2016
2035-42-2
2036-65-21
2037-88-40
2038-112-59
2039-136-79
2040-160-98
2041-185-117
2042-210-137
2043-235-156
2044-260-176
2045-285-195
2046-310-214
2047-336-234
2048-362-254
2049-388-273
2050-415-293
2051-442-313
2052-468-333
2053-495-352
2054-523-372
2055-550-393
2056-578-413
2057-606-434
2058-635-456
2059-664-478
2060-694-500
2061-725-523
2062-756-546
2063-787-570
2064-819-595
2065-852-619
2066-885-645
2067-918-670
2068-952-697
2069-987-723
2070-1022-750
2071-1057-778
2072-1094-807
2073-1132-836
2074-1171-866
2075-1210-897
2076-1251-929
2077-1293-962
2078-1335-995
2079-1378-1028
2080-1421-1062
2081-1464-1096
2082-1507-1129
2083-1550-1163
2084-1593-1197
2085-1636-1231
2086-1680-1266
2087-1724-1301
2088-1769-1336
2089-1814-1372
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