Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2020-2025). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2018288288
2019272272
2020256256
2021239241
2022223227
2023206214
2024188201
2025171190
2026154179
2027137168
2028120157
2029104146
203086135
203169123
203251111
20333399
20341487
2035-574
2036-2561
2037-4647
2038-6733
2039-8819
2040-1104
2041-132-11
2042-154-25
2043-176-40
2044-199-55
2045-221-69
2046-244-84
2047-267-99
2048-289-114
2049-312-128
2050-335-143
2051-358-158
2052-381-172
2053-403-187
2054-426-202
2055-450-217
2056-473-232
2057-496-248
2058-520-264
2059-544-280
2060-569-296
2061-594-313
2062-619-330
2063-645-347
2064-671-365
2065-698-384
2066-725-402
2067-752-421
2068-780-441
2069-808-460
2070-837-480
2071-866-501
2072-896-522
2073-927-544
2074-958-566
2075-990-589
2076-1023-612
2077-1057-636
2078-1092-661
2079-1128-686
2080-1165-712
2081-1202-738
2082-1240-765
2083-1278-791
2084-1316-818
2085-1354-845
2086-1392-871
2087-1430-898
2088-1468-925
2089-1505-951
2090-1543-978
2091-1580-1004
2092-1618-1031
2093-1655-1058
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