Proposed Provision: E2.15. Apply OASDI payroll tax rate on earnings above $300,000 starting in 2019, and tax all earnings once the current-law taxable maximum exceeds $300,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2018 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 3 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 | 267 |
| 2021 | 245 | 261 |
| 2022 | 230 | 255 |
| 2023 | 215 | 248 |
| 2024 | 199 | 240 |
| 2025 | 182 | 231 |
| 2026 | 165 | 222 |
| 2027 | 148 | 213 |
| 2028 | 130 | 204 |
| 2029 | 112 | 195 |
| 2030 | 94 | 186 |
| 2031 | 75 | 177 |
| 2032 | 56 | 169 |
| 2033 | 37 | 160 |
| 2034 | 16 | 151 |
| 2035 | -4 | 142 |
| 2036 | -26 | 133 |
| 2037 | -47 | 125 |
| 2038 | -70 | 117 |
| 2039 | -92 | 109 |
| 2040 | -115 | 102 |
| 2041 | -138 | 95 |
| 2042 | -161 | 88 |
| 2043 | -184 | 82 |
| 2044 | -207 | 75 |
| 2045 | -230 | 69 |
| 2046 | -253 | 63 |
| 2047 | -276 | 57 |
| 2048 | -300 | 51 |
| 2049 | -323 | 45 |
| 2050 | -346 | 40 |
| 2051 | -370 | 34 |
| 2052 | -393 | 28 |
| 2053 | -417 | 22 |
| 2054 | -440 | 17 |
| 2055 | -464 | 10 |
| 2056 | -487 | 4 |
| 2057 | -511 | -2 |
| 2058 | -536 | -9 |
| 2059 | -560 | -16 |
| 2060 | -585 | -24 |
| 2061 | -611 | -31 |
| 2062 | -637 | -39 |
| 2063 | -663 | -47 |
| 2064 | -690 | -56 |
| 2065 | -717 | -65 |
| 2066 | -745 | -74 |
| 2067 | -772 | -83 |
| 2068 | -801 | -93 |
| 2069 | -829 | -103 |
| 2070 | -858 | -114 |
| 2071 | -888 | -125 |
| 2072 | -918 | -136 |
| 2073 | -949 | -147 |
| 2074 | -981 | -159 |
| 2075 | -1014 | -171 |
| 2076 | -1047 | -183 |
| 2077 | -1082 | -196 |
| 2078 | -1117 | -209 |
| 2079 | -1153 | -222 |
| 2080 | -1190 | -235 |
| 2081 | -1227 | -249 |
| 2082 | -1264 | -262 |
| 2083 | -1300 | -276 |
| 2084 | -1337 | -289 |
| 2085 | -1374 | -303 |
| 2086 | -1410 | -316 |
| 2087 | -1446 | -330 |
| 2088 | -1483 | -344 |
| 2089 | -1520 | -359 |
| 2090 | -1557 | -373 |
| 2091 | -1595 | -388 |
| 2092 | -1633 | -403 |
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