Proposed Provision: E3.12. Beginning in 2025, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $548,700 in 2025), with the threshold wage-indexed after 2025. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2017298298
2018287287
2019273273
2020259259
2021245245
2022230230
2023215215
2024199199
2025182182
2026165166
2027148150
2028130133
2029112116
20309499
20317581
20325663
20333745
20341625
2035-46
2036-26-15
2037-47-35
2038-70-57
2039-92-78
2040-115-100
2041-138-121
2042-161-143
2043-184-165
2044-207-187
2045-230-209
2046-253-231
2047-276-253
2048-300-275
2049-323-297
2050-346-319
2051-370-342
2052-393-364
2053-417-386
2054-440-408
2055-464-430
2056-487-453
2057-511-476
2058-536-499
2059-560-522
2060-585-546
2061-611-571
2062-637-595
2063-663-621
2064-690-646
2065-717-672
2066-745-698
2067-772-725
2068-801-752
2069-829-780
2070-858-808
2071-888-836
2072-918-865
2073-949-895
2074-981-926
2075-1014-957
2076-1047-989
2077-1082-1022
2078-1117-1056
2079-1153-1091
2080-1190-1126
2081-1227-1162
2082-1264-1197
2083-1300-1233
2084-1337-1268
2085-1374-1303
2086-1410-1338
2087-1446-1373
2088-1483-1408
2089-1520-1444
2090-1557-1480
2091-1595-1516
2092-1633-1553
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