Proposed Provision: E1.8. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2021-2026, until the rate reaches 13.0 percent for 2026 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 | 207 |
| 2024 | 188 | 192 |
| 2025 | 171 | 177 |
| 2026 | 154 | 163 |
| 2027 | 137 | 149 |
| 2028 | 120 | 136 |
| 2029 | 104 | 122 |
| 2030 | 86 | 109 |
| 2031 | 69 | 94 |
| 2032 | 51 | 80 |
| 2033 | 33 | 65 |
| 2034 | 14 | 50 |
| 2035 | -5 | 34 |
| 2036 | -25 | 18 |
| 2037 | -46 | 1 |
| 2038 | -67 | -16 |
| 2039 | -88 | -33 |
| 2040 | -110 | -51 |
| 2041 | -132 | -69 |
| 2042 | -154 | -87 |
| 2043 | -176 | -105 |
| 2044 | -199 | -124 |
| 2045 | -221 | -142 |
| 2046 | -244 | -160 |
| 2047 | -267 | -178 |
| 2048 | -289 | -196 |
| 2049 | -312 | -215 |
| 2050 | -335 | -233 |
| 2051 | -358 | -251 |
| 2052 | -381 | -270 |
| 2053 | -403 | -288 |
| 2054 | -426 | -307 |
| 2055 | -450 | -325 |
| 2056 | -473 | -344 |
| 2057 | -496 | -363 |
| 2058 | -520 | -382 |
| 2059 | -544 | -402 |
| 2060 | -569 | -422 |
| 2061 | -594 | -442 |
| 2062 | -619 | -463 |
| 2063 | -645 | -484 |
| 2064 | -671 | -506 |
| 2065 | -698 | -528 |
| 2066 | -725 | -550 |
| 2067 | -752 | -573 |
| 2068 | -780 | -596 |
| 2069 | -808 | -619 |
| 2070 | -837 | -643 |
| 2071 | -866 | -667 |
| 2072 | -896 | -692 |
| 2073 | -927 | -718 |
| 2074 | -958 | -744 |
| 2075 | -990 | -771 |
| 2076 | -1023 | -798 |
| 2077 | -1057 | -827 |
| 2078 | -1092 | -856 |
| 2079 | -1128 | -886 |
| 2080 | -1165 | -917 |
| 2081 | -1202 | -948 |
| 2082 | -1240 | -979 |
| 2083 | -1278 | -1011 |
| 2084 | -1316 | -1042 |
| 2085 | -1354 | -1074 |
| 2086 | -1392 | -1106 |
| 2087 | -1430 | -1137 |
| 2088 | -1468 | -1169 |
| 2089 | -1505 | -1200 |
| 2090 | -1543 | -1231 |
| 2091 | -1580 | -1263 |
| 2092 | -1618 | -1294 |
| 2093 | -1655 | -1326 |
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