Proposed Provision: E3.16. Beginning in 2019, apply 4 percent payroll tax rate on earnings above the wage-indexed equivalent of $400,000 in 2015 (about $457,200 in 2019), with the threshold wage-indexed after 2019. Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings taxed only between 2015 wage-indexed equivalents of $400,000 and $500,000, or about $457,200 and $571,500 in 2019 (with thresholds wage-indexed after 2019); and (2) a formula factor of 2 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 273 |
| 2020 | 259 | 261 |
| 2021 | 245 | 249 |
| 2022 | 230 | 236 |
| 2023 | 215 | 223 |
| 2024 | 199 | 209 |
| 2025 | 182 | 194 |
| 2026 | 165 | 178 |
| 2027 | 148 | 163 |
| 2028 | 130 | 146 |
| 2029 | 112 | 130 |
| 2030 | 94 | 114 |
| 2031 | 75 | 97 |
| 2032 | 56 | 80 |
| 2033 | 37 | 62 |
| 2034 | 16 | 44 |
| 2035 | -4 | 25 |
| 2036 | -26 | 5 |
| 2037 | -47 | -14 |
| 2038 | -70 | -34 |
| 2039 | -92 | -55 |
| 2040 | -115 | -75 |
| 2041 | -138 | -96 |
| 2042 | -161 | -117 |
| 2043 | -184 | -137 |
| 2044 | -207 | -158 |
| 2045 | -230 | -179 |
| 2046 | -253 | -199 |
| 2047 | -276 | -220 |
| 2048 | -300 | -241 |
| 2049 | -323 | -262 |
| 2050 | -346 | -283 |
| 2051 | -370 | -303 |
| 2052 | -393 | -324 |
| 2053 | -417 | -345 |
| 2054 | -440 | -366 |
| 2055 | -464 | -387 |
| 2056 | -487 | -408 |
| 2057 | -511 | -430 |
| 2058 | -536 | -452 |
| 2059 | -560 | -474 |
| 2060 | -585 | -496 |
| 2061 | -611 | -519 |
| 2062 | -637 | -543 |
| 2063 | -663 | -566 |
| 2064 | -690 | -591 |
| 2065 | -717 | -615 |
| 2066 | -745 | -640 |
| 2067 | -772 | -665 |
| 2068 | -801 | -691 |
| 2069 | -829 | -717 |
| 2070 | -858 | -743 |
| 2071 | -888 | -770 |
| 2072 | -918 | -798 |
| 2073 | -949 | -826 |
| 2074 | -981 | -855 |
| 2075 | -1014 | -884 |
| 2076 | -1047 | -915 |
| 2077 | -1082 | -946 |
| 2078 | -1117 | -978 |
| 2079 | -1153 | -1011 |
| 2080 | -1190 | -1044 |
| 2081 | -1227 | -1078 |
| 2082 | -1264 | -1111 |
| 2083 | -1300 | -1144 |
| 2084 | -1337 | -1178 |
| 2085 | -1374 | -1211 |
| 2086 | -1410 | -1244 |
| 2087 | -1446 | -1277 |
| 2088 | -1483 | -1310 |
| 2089 | -1520 | -1344 |
| 2090 | -1557 | -1378 |
| 2091 | -1595 | -1412 |
| 2092 | -1633 | -1447 |
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