Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: E3.11: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2016	14.05	12.94	-1.10	303	0.00	0.00	0.00
2017	13.72	12.92	-0.80	293	0.00	0.00	0.00
2018	13.86	12.96	-0.90	277	0.00	0.00	0.00
2019	13.99	12.97	-1.02	262	0.00	0.00	0.00
2020	14.13	12.98	-1.15	246	0.00	0.00	0.00
2021	14.27	13.00	-1.27	231	0.00	0.00	0.00
2022	14.49	13.03	-1.46	216	0.00	0.00	0.00
2023	14.76	13.06	-1.70	200	0.00	0.00	0.00
2024	15.02	13.29	-1.73	183	0.00	0.20	0.20
2025	15.28	13.32	-1.97	167	0.00	0.21	0.21
2026	15.47	13.33	-2.14	151	0.00	0.21	0.21
2027	15.65	13.35	-2.30	136	0.00	0.21	0.21
2028	15.81	13.36	-2.45	120	0.00	0.21	0.21
2029	15.97	13.38	-2.59	104	0.00	0.21	0.21
2030	16.10	13.39	-2.71	88	0.00	0.21	0.21
2031	16.22	13.40	-2.82	72	0.00	0.21	0.21
2032	16.33	13.41	-2.92	56	0.00	0.21	0.21
2033	16.41	13.41	-2.99	39	0.00	0.21	0.21
2034	16.46	13.42	-3.04	21	0.00	0.21	0.21
2035	16.50	13.42	-3.07	3	0.00	0.21	0.21
2036	16.55	13.43	-3.13	----	0.00	0.21	0.21
2037	16.60	13.43	-3.16	----	0.00	0.21	0.21
2038	16.61	13.44	-3.18	----	0.00	0.21	0.21
2039	16.61	13.44	-3.17	----	0.00	0.21	0.21
2040	16.59	13.44	-3.15	----	0.00	0.21	0.21
2041	16.56	13.44	-3.12	----	0.00	0.21	0.21
2042	16.53	13.44	-3.09	----	0.00	0.21	0.21
2043	16.50	13.44	-3.06	----	0.00	0.21	0.21
2044	16.47	13.44	-3.03	----	0.00	0.21	0.21
2045	16.45	13.44	-3.01	----	0.00	0.21	0.21
2046	16.42	13.44	-2.98	----	0.00	0.21	0.21
2047	16.40	13.44	-2.96	----	0.00	0.21	0.21
2048	16.38	13.44	-2.94	----	0.00	0.21	0.21
2049	16.37	13.44	-2.93	----	0.00	0.21	0.21
2050	16.35	13.44	-2.92	----	0.00	0.21	0.21
2051	16.36	13.44	-2.91	----	0.00	0.21	0.21
2052	16.37	13.44	-2.93	----	0.00	0.21	0.21
2053	16.39	13.44	-2.94	----	0.00	0.21	0.21
2054	16.42	13.45	-2.97	----	0.00	0.21	0.21
2055	16.46	13.45	-3.01	----	0.00	0.21	0.21
2056	16.50	13.45	-3.05	----	0.00	0.21	0.21
2057	16.55	13.46	-3.09	----	0.00	0.21	0.21
2058	16.60	13.46	-3.14	----	-0.01	0.21	0.21
2059	16.65	13.47	-3.19	----	-0.01	0.21	0.21
2060	16.70	13.47	-3.23	----	-0.01	0.21	0.21
2061	16.75	13.47	-3.28	----	-0.01	0.21	0.21
2062	16.80	13.48	-3.32	----	-0.01	0.21	0.21
2063	16.85	13.48	-3.37	----	-0.01	0.21	0.21
2064	16.90	13.48	-3.41	----	-0.01	0.21	0.21
2065	16.95	13.49	-3.46	----	-0.01	0.21	0.21
2066	17.00	13.49	-3.51	----	-0.01	0.21	0.22
2067	17.05	13.50	-3.56	----	-0.01	0.21	0.22
2068	17.11	13.50	-3.61	----	-0.01	0.21	0.22
2069	17.16	13.50	-3.66	----	-0.01	0.21	0.22
2070	17.21	13.51	-3.70	----	-0.01	0.21	0.22
2071	17.26	13.51	-3.75	----	-0.01	0.21	0.22
2072	17.30	13.51	-3.78	----	-0.01	0.21	0.22
2073	17.33	13.51	-3.82	----	-0.01	0.21	0.22
2074	17.36	13.52	-3.84	----	-0.01	0.21	0.22
2075	17.38	13.52	-3.86	----	-0.01	0.21	0.22
2076	17.40	13.52	-3.88	----	-0.01	0.21	0.22
2077	17.40	13.52	-3.88	----	-0.01	0.21	0.22
2078	17.40	13.52	-3.88	----	-0.01	0.21	0.22
2079	17.40	13.52	-3.88	----	-0.01	0.21	0.22
2080	17.39	13.52	-3.87	----	-0.01	0.21	0.22
2081	17.39	13.52	-3.87	----	-0.01	0.21	0.22
2082	17.40	13.52	-3.88	----	-0.01	0.21	0.22
2083	17.41	13.52	-3.89	----	-0.01	0.21	0.22
2084	17.43	13.52	-3.91	----	-0.01	0.21	0.22
2085	17.46	13.53	-3.93	----	-0.01	0.21	0.22
2086	17.50	13.53	-3.97	----	-0.01	0.21	0.22
2087	17.53	13.53	-4.00	----	-0.01	0.21	0.22
2088	17.58	13.53	-4.04	----	-0.01	0.21	0.22
2089	17.62	13.54	-4.09	----	-0.01	0.21	0.22
2090	17.67	13.54	-4.13	----	-0.01	0.21	0.22
2091	17.71	13.54	-4.17	----	-0.01	0.21	0.22

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090	16.50%	14.03%	-2.47%	2035	-0.00%	0.18%	0.19%

¹ Under present law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Description of Proposed Provision: E3.11: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
E3.11: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.