Proposed Provision: E3.15. Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2019-2028). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2019-2028). Provide benefit credit for earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 258 |
| 2021 | 239 | 244 |
| 2022 | 223 | 232 |
| 2023 | 206 | 220 |
| 2024 | 188 | 209 |
| 2025 | 171 | 199 |
| 2026 | 154 | 190 |
| 2027 | 137 | 181 |
| 2028 | 120 | 173 |
| 2029 | 104 | 166 |
| 2030 | 86 | 158 |
| 2031 | 69 | 150 |
| 2032 | 51 | 142 |
| 2033 | 33 | 134 |
| 2034 | 14 | 125 |
| 2035 | -5 | 116 |
| 2036 | -25 | 107 |
| 2037 | -46 | 97 |
| 2038 | -67 | 87 |
| 2039 | -88 | 77 |
| 2040 | -110 | 66 |
| 2041 | -132 | 56 |
| 2042 | -154 | 45 |
| 2043 | -176 | 35 |
| 2044 | -199 | 24 |
| 2045 | -221 | 14 |
| 2046 | -244 | 3 |
| 2047 | -267 | -7 |
| 2048 | -289 | -17 |
| 2049 | -312 | -28 |
| 2050 | -335 | -38 |
| 2051 | -358 | -49 |
| 2052 | -381 | -59 |
| 2053 | -403 | -70 |
| 2054 | -426 | -80 |
| 2055 | -450 | -91 |
| 2056 | -473 | -102 |
| 2057 | -496 | -114 |
| 2058 | -520 | -126 |
| 2059 | -544 | -138 |
| 2060 | -569 | -150 |
| 2061 | -594 | -163 |
| 2062 | -619 | -176 |
| 2063 | -645 | -189 |
| 2064 | -671 | -203 |
| 2065 | -698 | -218 |
| 2066 | -725 | -232 |
| 2067 | -752 | -247 |
| 2068 | -780 | -263 |
| 2069 | -808 | -278 |
| 2070 | -837 | -294 |
| 2071 | -866 | -311 |
| 2072 | -896 | -328 |
| 2073 | -927 | -346 |
| 2074 | -958 | -364 |
| 2075 | -990 | -382 |
| 2076 | -1023 | -401 |
| 2077 | -1057 | -421 |
| 2078 | -1092 | -441 |
| 2079 | -1128 | -461 |
| 2080 | -1165 | -482 |
| 2081 | -1202 | -503 |
| 2082 | -1240 | -525 |
| 2083 | -1278 | -546 |
| 2084 | -1316 | -568 |
| 2085 | -1354 | -589 |
| 2086 | -1392 | -611 |
| 2087 | -1430 | -633 |
| 2088 | -1468 | -654 |
| 2089 | -1505 | -676 |
| 2090 | -1543 | -697 |
| 2091 | -1580 | -719 |
| 2092 | -1618 | -741 |
| 2093 | -1655 | -763 |
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