Proposed Provision: E2.2. Eliminate the taxable maximum in years 2018 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 288 |
| 2020 | 259 | 290 |
| 2021 | 245 | 291 |
| 2022 | 230 | 291 |
| 2023 | 215 | 289 |
| 2024 | 199 | 286 |
| 2025 | 182 | 282 |
| 2026 | 165 | 276 |
| 2027 | 148 | 270 |
| 2028 | 130 | 264 |
| 2029 | 112 | 258 |
| 2030 | 94 | 252 |
| 2031 | 75 | 246 |
| 2032 | 56 | 240 |
| 2033 | 37 | 234 |
| 2034 | 16 | 227 |
| 2035 | -4 | 219 |
| 2036 | -26 | 212 |
| 2037 | -47 | 204 |
| 2038 | -70 | 197 |
| 2039 | -92 | 189 |
| 2040 | -115 | 182 |
| 2041 | -138 | 174 |
| 2042 | -161 | 167 |
| 2043 | -184 | 160 |
| 2044 | -207 | 153 |
| 2045 | -230 | 146 |
| 2046 | -253 | 138 |
| 2047 | -276 | 131 |
| 2048 | -300 | 124 |
| 2049 | -323 | 117 |
| 2050 | -346 | 110 |
| 2051 | -370 | 103 |
| 2052 | -393 | 96 |
| 2053 | -417 | 88 |
| 2054 | -440 | 80 |
| 2055 | -464 | 72 |
| 2056 | -487 | 64 |
| 2057 | -511 | 55 |
| 2058 | -536 | 46 |
| 2059 | -560 | 37 |
| 2060 | -585 | 27 |
| 2061 | -611 | 17 |
| 2062 | -637 | 7 |
| 2063 | -663 | -4 |
| 2064 | -690 | -15 |
| 2065 | -717 | -26 |
| 2066 | -745 | -38 |
| 2067 | -772 | -50 |
| 2068 | -801 | -63 |
| 2069 | -829 | -76 |
| 2070 | -858 | -89 |
| 2071 | -888 | -102 |
| 2072 | -918 | -116 |
| 2073 | -949 | -131 |
| 2074 | -981 | -145 |
| 2075 | -1014 | -160 |
| 2076 | -1047 | -176 |
| 2077 | -1082 | -191 |
| 2078 | -1117 | -207 |
| 2079 | -1153 | -223 |
| 2080 | -1190 | -240 |
| 2081 | -1227 | -256 |
| 2082 | -1264 | -273 |
| 2083 | -1300 | -290 |
| 2084 | -1337 | -306 |
| 2085 | -1374 | -323 |
| 2086 | -1410 | -340 |
| 2087 | -1446 | -357 |
| 2088 | -1483 | -375 |
| 2089 | -1520 | -392 |
| 2090 | -1557 | -410 |
| 2091 | -1595 | -428 |
| 2092 | -1633 | -447 |
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