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 |
| 2019 | 273 | 273 |
| 2020 | 260 | 260 |
| 2021 | 245 | 260 |
| 2022 | 229 | 260 |
| 2023 | 213 | 259 |
| 2024 | 197 | 256 |
| 2025 | 180 | 253 |
| 2026 | 163 | 249 |
| 2027 | 147 | 244 |
| 2028 | 130 | 239 |
| 2029 | 114 | 235 |
| 2030 | 97 | 230 |
| 2031 | 80 | 225 |
| 2032 | 63 | 221 |
| 2033 | 46 | 216 |
| 2034 | 28 | 212 |
| 2035 | 10 | 208 |
| 2036 | -9 | 203 |
| 2037 | -28 | 197 |
| 2038 | -47 | 192 |
| 2039 | -67 | 186 |
| 2040 | -87 | 180 |
| 2041 | -108 | 174 |
| 2042 | -129 | 168 |
| 2043 | -150 | 162 |
| 2044 | -171 | 156 |
| 2045 | -192 | 150 |
| 2046 | -213 | 144 |
| 2047 | -234 | 138 |
| 2048 | -255 | 132 |
| 2049 | -276 | 125 |
| 2050 | -297 | 119 |
| 2051 | -318 | 113 |
| 2052 | -338 | 106 |
| 2053 | -359 | 99 |
| 2054 | -380 | 92 |
| 2055 | -401 | 85 |
| 2056 | -422 | 78 |
| 2057 | -444 | 70 |
| 2058 | -465 | 62 |
| 2059 | -487 | 53 |
| 2060 | -509 | 45 |
| 2061 | -531 | 35 |
| 2062 | -554 | 26 |
| 2063 | -577 | 16 |
| 2064 | -601 | 6 |
| 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 |
back