Proposed Provision: E2.2. Eliminate the taxable maximum in years 2020 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.

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

Year Current Law Provision
2019273273
2020260260
2021245260
2022229260
2023213259
2024197256
2025180253
2026163249
2027147244
2028130239
2029114235
203097230
203180225
203263221
203346216
203428212
203510208
2036-9203
2037-28197
2038-47192
2039-67186
2040-87180
2041-108174
2042-129168
2043-150162
2044-171156
2045-192150
2046-213144
2047-234138
2048-255132
2049-276125
2050-297119
2051-318113
2052-338106
2053-35999
2054-38092
2055-40185
2056-42278
2057-44470
2058-46562
2059-48753
2060-50945
2061-53135
2062-55426
2063-57716
2064-6016
2065-625-5
2066-649-16
2067-674-28
2068-699-39
2069-724-52
2070-749-64
2071-776-77
2072-802-90
2073-830-104
2074-857-118
2075-885-132
2076-914-147
2077-944-162
2078-975-177
2079-1007-193
2080-1039-209
2081-1072-225
2082-1106-241
2083-1139-257
2084-1173-273
2085-1207-290
2086-1242-306
2087-1275-322
2088-1309-338
2089-1342-355
2090-1375-371
2091-1407-387
2092-1439-403
2093-1471-419
2094-1503-436
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