Proposed Provision: E1.4. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2024-2043, until the rate reaches 14.4 percent in 2043 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 256 |
| 2021 | 239 | 239 |
| 2022 | 223 | 223 |
| 2023 | 206 | 206 |
| 2024 | 188 | 188 |
| 2025 | 171 | 172 |
| 2026 | 154 | 156 |
| 2027 | 137 | 141 |
| 2028 | 120 | 126 |
| 2029 | 104 | 112 |
| 2030 | 86 | 98 |
| 2031 | 69 | 85 |
| 2032 | 51 | 72 |
| 2033 | 33 | 59 |
| 2034 | 14 | 45 |
| 2035 | -5 | 32 |
| 2036 | -25 | 19 |
| 2037 | -46 | 7 |
| 2038 | -67 | -6 |
| 2039 | -88 | -18 |
| 2040 | -110 | -31 |
| 2041 | -132 | -42 |
| 2042 | -154 | -53 |
| 2043 | -176 | -64 |
| 2044 | -199 | -74 |
| 2045 | -221 | -84 |
| 2046 | -244 | -93 |
| 2047 | -267 | -103 |
| 2048 | -289 | -112 |
| 2049 | -312 | -122 |
| 2050 | -335 | -131 |
| 2051 | -358 | -140 |
| 2052 | -381 | -150 |
| 2053 | -403 | -159 |
| 2054 | -426 | -169 |
| 2055 | -450 | -178 |
| 2056 | -473 | -188 |
| 2057 | -496 | -197 |
| 2058 | -520 | -207 |
| 2059 | -544 | -218 |
| 2060 | -569 | -228 |
| 2061 | -594 | -239 |
| 2062 | -619 | -251 |
| 2063 | -645 | -262 |
| 2064 | -671 | -274 |
| 2065 | -698 | -287 |
| 2066 | -725 | -299 |
| 2067 | -752 | -312 |
| 2068 | -780 | -326 |
| 2069 | -808 | -339 |
| 2070 | -837 | -353 |
| 2071 | -866 | -368 |
| 2072 | -896 | -383 |
| 2073 | -927 | -398 |
| 2074 | -958 | -414 |
| 2075 | -990 | -430 |
| 2076 | -1023 | -447 |
| 2077 | -1057 | -464 |
| 2078 | -1092 | -482 |
| 2079 | -1128 | -500 |
| 2080 | -1165 | -519 |
| 2081 | -1202 | -537 |
| 2082 | -1240 | -556 |
| 2083 | -1278 | -575 |
| 2084 | -1316 | -594 |
| 2085 | -1354 | -613 |
| 2086 | -1392 | -633 |
| 2087 | -1430 | -651 |
| 2088 | -1468 | -670 |
| 2089 | -1505 | -689 |
| 2090 | -1543 | -708 |
| 2091 | -1580 | -727 |
| 2092 | -1618 | -746 |
| 2093 | -1655 | -765 |
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