Proposed Provision: Apply OASDI payroll tax rate on earnings above $400,000 starting in 2017, 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 2016 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 |
| 2015 | 308 | 308 |
| 2016 | 298 | 298 |
| 2017 | 280 | 280 |
| 2018 | 264 | 271 |
| 2019 | 248 | 262 |
| 2020 | 233 | 254 |
| 2021 | 219 | 246 |
| 2022 | 204 | 239 |
| 2023 | 189 | 230 |
| 2024 | 173 | 221 |
| 2025 | 157 | 213 |
| 2026 | 142 | 205 |
| 2027 | 126 | 196 |
| 2028 | 110 | 188 |
| 2029 | 94 | 180 |
| 2030 | 77 | 172 |
| 2031 | 60 | 164 |
| 2032 | 42 | 155 |
| 2033 | 23 | 146 |
| 2034 | 4 | 137 |
| 2035 | -16 | 128 |
| 2036 | -36 | 119 |
| 2037 | -57 | 110 |
| 2038 | -78 | 101 |
| 2039 | -100 | 92 |
| 2040 | -122 | 83 |
| 2041 | -144 | 75 |
| 2042 | -166 | 68 |
| 2043 | -189 | 60 |
| 2044 | -211 | 53 |
| 2045 | -234 | 47 |
| 2046 | -257 | 41 |
| 2047 | -280 | 36 |
| 2048 | -303 | 30 |
| 2049 | -327 | 25 |
| 2050 | -351 | 19 |
| 2051 | -375 | 13 |
| 2052 | -398 | 8 |
| 2053 | -423 | 2 |
| 2054 | -447 | -4 |
| 2055 | -472 | -11 |
| 2056 | -496 | -18 |
| 2057 | -522 | -25 |
| 2058 | -548 | -32 |
| 2059 | -574 | -40 |
| 2060 | -601 | -48 |
| 2061 | -629 | -56 |
| 2062 | -657 | -65 |
| 2063 | -685 | -74 |
| 2064 | -714 | -83 |
| 2065 | -744 | -93 |
| 2066 | -774 | -103 |
| 2067 | -804 | -113 |
| 2068 | -835 | -124 |
| 2069 | -867 | -135 |
| 2070 | -899 | -147 |
| 2071 | -932 | -159 |
| 2072 | -965 | -171 |
| 2073 | -1000 | -184 |
| 2074 | -1035 | -197 |
| 2075 | -1072 | -211 |
| 2076 | -1110 | -225 |
| 2077 | -1148 | -239 |
| 2078 | -1188 | -254 |
| 2079 | -1228 | -268 |
| 2080 | -1268 | -283 |
| 2081 | -1309 | -298 |
| 2082 | -1350 | -314 |
| 2083 | -1391 | -329 |
| 2084 | -1432 | -344 |
| 2085 | -1472 | -360 |
| 2086 | -1514 | -376 |
| 2087 | -1555 | -392 |
| 2088 | -1597 | -408 |
| 2089 | -1640 | -425 |
| 2090 | -1683 | -442 |
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