Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2018-2023). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2016 | 303 | 303 |
| 2017 | 293 | 293 |
| 2018 | 277 | 277 |
| 2019 | 262 | 264 |
| 2020 | 246 | 253 |
| 2021 | 231 | 244 |
| 2022 | 216 | 234 |
| 2023 | 200 | 224 |
| 2024 | 183 | 213 |
| 2025 | 165 | 202 |
| 2026 | 149 | 191 |
| 2027 | 132 | 180 |
| 2028 | 115 | 169 |
| 2029 | 98 | 158 |
| 2030 | 81 | 147 |
| 2031 | 64 | 136 |
| 2032 | 46 | 125 |
| 2033 | 27 | 113 |
| 2034 | 8 | 101 |
| 2035 | -11 | 89 |
| 2036 | -30 | 76 |
| 2037 | -50 | 63 |
| 2038 | -71 | 50 |
| 2039 | -91 | 37 |
| 2040 | -112 | 23 |
| 2041 | -133 | 10 |
| 2042 | -154 | -4 |
| 2043 | -176 | -17 |
| 2044 | -197 | -30 |
| 2045 | -218 | -44 |
| 2046 | -240 | -57 |
| 2047 | -262 | -71 |
| 2048 | -283 | -84 |
| 2049 | -305 | -98 |
| 2050 | -327 | -111 |
| 2051 | -349 | -125 |
| 2052 | -371 | -138 |
| 2053 | -393 | -152 |
| 2054 | -415 | -166 |
| 2055 | -437 | -180 |
| 2056 | -460 | -194 |
| 2057 | -482 | -209 |
| 2058 | -506 | -224 |
| 2059 | -529 | -239 |
| 2060 | -553 | -255 |
| 2061 | -578 | -271 |
| 2062 | -603 | -287 |
| 2063 | -628 | -304 |
| 2064 | -654 | -321 |
| 2065 | -680 | -338 |
| 2066 | -706 | -356 |
| 2067 | -733 | -374 |
| 2068 | -760 | -393 |
| 2069 | -788 | -411 |
| 2070 | -816 | -431 |
| 2071 | -845 | -450 |
| 2072 | -874 | -471 |
| 2073 | -905 | -491 |
| 2074 | -935 | -512 |
| 2075 | -967 | -534 |
| 2076 | -1000 | -557 |
| 2077 | -1033 | -580 |
| 2078 | -1068 | -603 |
| 2079 | -1102 | -627 |
| 2080 | -1138 | -651 |
| 2081 | -1173 | -675 |
| 2082 | -1208 | -699 |
| 2083 | -1243 | -723 |
| 2084 | -1279 | -747 |
| 2085 | -1314 | -771 |
| 2086 | -1349 | -795 |
| 2087 | -1384 | -820 |
| 2088 | -1419 | -844 |
| 2089 | -1455 | -869 |
| 2090 | -1491 | -895 |
| 2091 | -1528 | -920 |
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