Proposed Provision: E2.1. Eliminate the taxable maximum in years 2020 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2019 | 273 | 273 |
| 2020 | 260 | 260 |
| 2021 | 245 | 260 |
| 2022 | 229 | 260 |
| 2023 | 213 | 259 |
| 2024 | 197 | 257 |
| 2025 | 180 | 254 |
| 2026 | 163 | 250 |
| 2027 | 147 | 246 |
| 2028 | 130 | 242 |
| 2029 | 114 | 238 |
| 2030 | 97 | 234 |
| 2031 | 80 | 230 |
| 2032 | 63 | 226 |
| 2033 | 46 | 223 |
| 2034 | 28 | 220 |
| 2035 | 10 | 216 |
| 2036 | -9 | 213 |
| 2037 | -28 | 209 |
| 2038 | -47 | 205 |
| 2039 | -67 | 201 |
| 2040 | -87 | 197 |
| 2041 | -108 | 194 |
| 2042 | -129 | 190 |
| 2043 | -150 | 186 |
| 2044 | -171 | 183 |
| 2045 | -192 | 179 |
| 2046 | -213 | 176 |
| 2047 | -234 | 173 |
| 2048 | -255 | 170 |
| 2049 | -276 | 167 |
| 2050 | -297 | 164 |
| 2051 | -318 | 161 |
| 2052 | -338 | 158 |
| 2053 | -359 | 155 |
| 2054 | -380 | 152 |
| 2055 | -401 | 149 |
| 2056 | -422 | 145 |
| 2057 | -444 | 142 |
| 2058 | -465 | 138 |
| 2059 | -487 | 134 |
| 2060 | -509 | 129 |
| 2061 | -531 | 125 |
| 2062 | -554 | 120 |
| 2063 | -577 | 114 |
| 2064 | -601 | 109 |
| 2065 | -625 | 103 |
| 2066 | -649 | 97 |
| 2067 | -674 | 91 |
| 2068 | -699 | 84 |
| 2069 | -724 | 77 |
| 2070 | -749 | 70 |
| 2071 | -776 | 62 |
| 2072 | -802 | 54 |
| 2073 | -830 | 46 |
| 2074 | -857 | 37 |
| 2075 | -885 | 28 |
| 2076 | -914 | 19 |
| 2077 | -944 | 10 |
| 2078 | -975 | 1 |
| 2079 | -1007 | -9 |
| 2080 | -1039 | -18 |
| 2081 | -1072 | -28 |
| 2082 | -1106 | -37 |
| 2083 | -1139 | -47 |
| 2084 | -1173 | -56 |
| 2085 | -1207 | -65 |
| 2086 | -1242 | -75 |
| 2087 | -1275 | -84 |
| 2088 | -1309 | -94 |
| 2089 | -1342 | -103 |
| 2090 | -1375 | -112 |
| 2091 | -1407 | -122 |
| 2092 | -1439 | -132 |
| 2093 | -1471 | -141 |
| 2094 | -1503 | -152 |
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