Proposed Provision: E2.3. 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.  Create a new bend point at the current-law taxable maximum with a 3 percent formula factor applying above the new bend point.
  
    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 | 271 |       
| 2028 | 130 | 265 |       
| 2029 | 112 | 259 |       
| 2030 | 94 | 253 |       
| 2031 | 75 | 247 |       
| 2032 | 56 | 241 |       
| 2033 | 37 | 235 |       
| 2034 | 16 | 228 |       
| 2035 | -4 | 222 |       
| 2036 | -26 | 215 |       
| 2037 | -47 | 207 |       
| 2038 | -70 | 200 |       
| 2039 | -92 | 193 |       
| 2040 | -115 | 187 |       
| 2041 | -138 | 180 |       
| 2042 | -161 | 174 |       
| 2043 | -184 | 167 |       
| 2044 | -207 | 161 |       
| 2045 | -230 | 155 |       
| 2046 | -253 | 149 |       
| 2047 | -276 | 143 |       
| 2048 | -300 | 138 |       
| 2049 | -323 | 132 |       
| 2050 | -346 | 127 |       
| 2051 | -370 | 121 |       
| 2052 | -393 | 115 |       
| 2053 | -417 | 110 |       
| 2054 | -440 | 104 |       
| 2055 | -464 | 97 |       
| 2056 | -487 | 91 |       
| 2057 | -511 | 85 |       
| 2058 | -536 | 78 |       
| 2059 | -560 | 71 |       
| 2060 | -585 | 63 |       
| 2061 | -611 | 55 |       
| 2062 | -637 | 48 |       
| 2063 | -663 | 39 |       
| 2064 | -690 | 31 |       
| 2065 | -717 | 22 |       
| 2066 | -745 | 13 |       
| 2067 | -772 | 3 |       
| 2068 | -801 | -6 |       
| 2069 | -829 | -17 |       
| 2070 | -858 | -27 |       
| 2071 | -888 | -38 |       
| 2072 | -918 | -49 |       
| 2073 | -949 | -60 |       
| 2074 | -981 | -72 |       
| 2075 | -1014 | -84 |       
| 2076 | -1047 | -96 |       
| 2077 | -1082 | -108 |       
| 2078 | -1117 | -121 |       
| 2079 | -1153 | -134 |       
| 2080 | -1190 | -146 |       
| 2081 | -1227 | -159 |       
| 2082 | -1264 | -172 |       
| 2083 | -1300 | -186 |       
| 2084 | -1337 | -199 |       
| 2085 | -1374 | -212 |       
| 2086 | -1410 | -226 |       
| 2087 | -1446 | -239 |       
| 2088 | -1483 | -253 |       
| 2089 | -1520 | -267 |       
| 2090 | -1557 | -282 |       
| 2091 | -1595 | -296 |       
| 2092 | -1633 | -311 | 
    
    
  
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