Proposed Provision: E2.3. Eliminate the taxable maximum in years 2019 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum. Create a new bend point at the current-law taxable maximum with a 3 percent formula factor applying above the new bend point.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 271 |
| 2021 | 239 | 270 |
| 2022 | 223 | 268 |
| 2023 | 206 | 265 |
| 2024 | 188 | 261 |
| 2025 | 171 | 257 |
| 2026 | 154 | 252 |
| 2027 | 137 | 247 |
| 2028 | 120 | 242 |
| 2029 | 104 | 237 |
| 2030 | 86 | 232 |
| 2031 | 69 | 227 |
| 2032 | 51 | 222 |
| 2033 | 33 | 218 |
| 2034 | 14 | 213 |
| 2035 | -5 | 208 |
| 2036 | -25 | 202 |
| 2037 | -46 | 196 |
| 2038 | -67 | 191 |
| 2039 | -88 | 185 |
| 2040 | -110 | 179 |
| 2041 | -132 | 173 |
| 2042 | -154 | 167 |
| 2043 | -176 | 161 |
| 2044 | -199 | 156 |
| 2045 | -221 | 150 |
| 2046 | -244 | 145 |
| 2047 | -267 | 140 |
| 2048 | -289 | 135 |
| 2049 | -312 | 129 |
| 2050 | -335 | 124 |
| 2051 | -358 | 119 |
| 2052 | -381 | 114 |
| 2053 | -403 | 108 |
| 2054 | -426 | 103 |
| 2055 | -450 | 97 |
| 2056 | -473 | 91 |
| 2057 | -496 | 85 |
| 2058 | -520 | 79 |
| 2059 | -544 | 72 |
| 2060 | -569 | 65 |
| 2061 | -594 | 58 |
| 2062 | -619 | 50 |
| 2063 | -645 | 43 |
| 2064 | -671 | 34 |
| 2065 | -698 | 26 |
| 2066 | -725 | 17 |
| 2067 | -752 | 8 |
| 2068 | -780 | -1 |
| 2069 | -808 | -11 |
| 2070 | -837 | -21 |
| 2071 | -866 | -32 |
| 2072 | -896 | -43 |
| 2073 | -927 | -54 |
| 2074 | -958 | -65 |
| 2075 | -990 | -77 |
| 2076 | -1023 | -89 |
| 2077 | -1057 | -102 |
| 2078 | -1092 | -114 |
| 2079 | -1128 | -127 |
| 2080 | -1165 | -140 |
| 2081 | -1202 | -153 |
| 2082 | -1240 | -166 |
| 2083 | -1278 | -179 |
| 2084 | -1316 | -193 |
| 2085 | -1354 | -206 |
| 2086 | -1392 | -219 |
| 2087 | -1430 | -233 |
| 2088 | -1468 | -246 |
| 2089 | -1505 | -259 |
| 2090 | -1543 | -273 |
| 2091 | -1580 | -287 |
| 2092 | -1618 | -301 |
| 2093 | -1655 | -315 |
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