Proposed Provision: E3.11. Beginning in 2027, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $432,600 in 2027), with the threshold wage-indexed after 2027. Do not provide benefit credit for additional earnings taxed.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
201912.812.813.913.9
202012.912.913.913.9
202112.912.914.114.1
202212.912.914.214.2
202312.912.914.414.4
202413.013.014.614.6
202513.013.014.814.8
202613.113.115.015.0
202713.113.315.215.2
202813.213.415.415.4
202913.213.415.615.6
203013.213.415.815.8
203113.213.416.016.0
203213.213.416.116.1
203313.213.416.216.2
203413.213.416.316.3
203513.313.516.416.4
203613.313.516.516.5
203713.313.516.516.5
203813.313.516.616.6
203913.313.516.616.6
204013.313.516.616.6
204113.313.516.616.6
204213.313.516.616.6
204313.313.516.616.6
204413.313.516.516.5
204513.313.516.516.5
204613.313.516.516.5
204713.313.516.416.4
204813.313.516.416.4
204913.313.516.416.4
205013.313.516.416.4
205113.313.516.416.4
205213.313.516.416.4
205313.313.516.416.4
205413.313.516.416.4
205513.313.516.416.4
205613.313.516.416.4
205713.313.516.516.5
205813.313.516.516.5
205913.313.516.616.6
206013.313.516.616.6
206113.313.516.716.7
206213.313.516.716.7
206313.313.516.816.8
206413.313.516.816.8
206513.313.516.916.9
206613.313.517.016.9
206713.313.517.017.0
206813.313.517.117.1
206913.313.517.117.1
207013.313.517.217.2
207113.313.517.317.2
207213.313.617.317.3
207313.313.617.317.3
207413.413.617.417.4
207513.413.617.417.4
207613.413.617.517.5
207713.413.617.517.5
207813.413.617.517.5
207913.413.617.517.5
208013.413.617.517.5
208113.413.617.417.4
208213.413.617.417.4
208313.413.617.417.4
208413.413.617.417.4
208513.413.617.417.3
208613.413.617.317.3
208713.413.617.317.3
208813.413.617.317.3
208913.413.617.317.3
209013.413.617.417.3
209113.413.617.417.4
209213.413.617.417.4
209313.413.617.517.5
209413.413.617.517.5
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