__Description of Proposed Provision__:

E1.10: Increase the payroll tax rate by 0.1 percentage point per year for 2019 through 2028 so that it equals 13.4 percent for 2028 and later. The increase would be split evenly between the employer and employee share, and would be split between OASI and DI in proportion to currently scheduled payroll tax rates.

*Estimates based on the intermediate assumptions
of the 2017 Trustees Report*

Summary Measures | |||||||
---|---|---|---|---|---|---|---|

Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||

Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||

-2.83 | -4.48 | 0.88 | 1.00 | 31% | 22% |