Detailed Single Year Tables

Payroll Taxes (including maximum taxable)	Description of Proposed Provision: E3.13: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 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	13.25	-1.77	183	0.00	0.16	0.16
2025	15.28	13.28	-2.01	166	0.00	0.17	0.17
2026	15.47	13.29	-2.18	151	0.00	0.17	0.17
2027	15.65	13.31	-2.34	135	0.00	0.17	0.17
2028	15.81	13.32	-2.49	119	0.00	0.17	0.17
2029	15.97	13.34	-2.63	103	0.00	0.17	0.17
2030	16.10	13.35	-2.75	87	0.00	0.17	0.17
2031	16.22	13.36	-2.86	71	0.00	0.17	0.17
2032	16.33	13.37	-2.96	54	0.00	0.17	0.17
2033	16.41	13.37	-3.03	36	0.00	0.17	0.17
2034	16.46	13.38	-3.08	19	0.00	0.17	0.17
2035	16.50	13.38	-3.11	1	0.00	0.17	0.17
2036	16.55	13.39	-3.16	----	0.00	0.17	0.17
2037	16.60	13.39	-3.20	----	0.00	0.17	0.17
2038	16.61	13.40	-3.21	----	0.00	0.17	0.17
2039	16.61	13.40	-3.21	----	0.00	0.17	0.17
2040	16.59	13.40	-3.19	----	0.00	0.17	0.17
2041	16.56	13.40	-3.16	----	0.00	0.17	0.17
2042	16.53	13.40	-3.13	----	0.00	0.17	0.17
2043	16.50	13.40	-3.10	----	0.00	0.17	0.17
2044	16.47	13.40	-3.07	----	0.00	0.17	0.17
2045	16.45	13.40	-3.05	----	0.00	0.17	0.17
2046	16.42	13.40	-3.02	----	0.00	0.17	0.17
2047	16.40	13.40	-3.00	----	0.00	0.17	0.17
2048	16.38	13.40	-2.98	----	0.00	0.17	0.17
2049	16.37	13.40	-2.97	----	0.00	0.17	0.17
2050	16.36	13.40	-2.95	----	0.00	0.17	0.17
2051	16.36	13.40	-2.95	----	0.00	0.17	0.17
2052	16.37	13.40	-2.96	----	0.00	0.17	0.17
2053	16.39	13.41	-2.98	----	0.00	0.17	0.17
2054	16.42	13.41	-3.01	----	0.00	0.17	0.17
2055	16.46	13.41	-3.05	----	0.00	0.17	0.17
2056	16.50	13.42	-3.09	----	0.00	0.17	0.17
2057	16.55	13.42	-3.13	----	0.00	0.17	0.17
2058	16.60	13.42	-3.18	----	0.00	0.17	0.17
2059	16.65	13.43	-3.22	----	0.00	0.17	0.17
2060	16.70	13.43	-3.27	----	0.00	0.17	0.17
2061	16.75	13.43	-3.32	----	0.00	0.17	0.17
2062	16.80	13.44	-3.36	----	0.00	0.17	0.17
2063	16.85	13.44	-3.41	----	0.00	0.17	0.17
2064	16.90	13.45	-3.45	----	-0.01	0.17	0.17
2065	16.95	13.45	-3.50	----	-0.01	0.17	0.18
2066	17.00	13.45	-3.55	----	-0.01	0.17	0.18
2067	17.05	13.46	-3.60	----	-0.01	0.17	0.18
2068	17.11	13.46	-3.65	----	-0.01	0.17	0.18
2069	17.16	13.46	-3.70	----	-0.01	0.17	0.18
2070	17.21	13.47	-3.74	----	-0.01	0.17	0.18
2071	17.26	13.47	-3.79	----	-0.01	0.17	0.18
2072	17.30	13.47	-3.82	----	-0.01	0.17	0.18
2073	17.33	13.48	-3.86	----	-0.01	0.17	0.18
2074	17.36	13.48	-3.88	----	-0.01	0.17	0.18
2075	17.39	13.48	-3.90	----	-0.01	0.17	0.18
2076	17.40	13.48	-3.92	----	-0.01	0.17	0.18
2077	17.40	13.48	-3.92	----	-0.01	0.17	0.18
2078	17.40	13.48	-3.92	----	-0.01	0.17	0.18
2079	17.40	13.48	-3.92	----	-0.01	0.17	0.18
2080	17.39	13.48	-3.91	----	-0.01	0.17	0.18
2081	17.39	13.48	-3.91	----	-0.01	0.17	0.18
2082	17.40	13.48	-3.92	----	-0.01	0.17	0.18
2083	17.41	13.48	-3.93	----	-0.01	0.17	0.18
2084	17.43	13.49	-3.95	----	-0.01	0.17	0.18
2085	17.46	13.49	-3.97	----	-0.01	0.17	0.18
2086	17.50	13.49	-4.01	----	-0.01	0.17	0.18
2087	17.54	13.49	-4.04	----	-0.01	0.17	0.18
2088	17.58	13.49	-4.08	----	-0.01	0.17	0.18
2089	17.62	13.50	-4.13	----	-0.01	0.17	0.18
2090	17.67	13.50	-4.17	----	-0.01	0.17	0.18
2091	17.72	13.50	-4.21	----	-0.01	0.17	0.18

				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%	13.99%	-2.51%	2035	-0.00%	0.15%	0.15%

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: E3.13: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 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:
E3.13: Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.