Proposed Provision: E1.9. Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2023-2046, until the rate reaches 14.8 percent in 2046. Then increase the payroll tax rate an additional 0.1 percentage point in each year from 2085-2089, until the rate reaches 15.3 percent for 2089 and later.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2019 | 273 | 273 |
| 2020 | 260 | 260 |
| 2021 | 245 | 245 |
| 2022 | 229 | 229 |
| 2023 | 213 | 213 |
| 2024 | 197 | 197 |
| 2025 | 180 | 182 |
| 2026 | 163 | 167 |
| 2027 | 147 | 153 |
| 2028 | 130 | 139 |
| 2029 | 114 | 126 |
| 2030 | 97 | 113 |
| 2031 | 80 | 101 |
| 2032 | 63 | 89 |
| 2033 | 46 | 77 |
| 2034 | 28 | 66 |
| 2035 | 10 | 55 |
| 2036 | -9 | 44 |
| 2037 | -28 | 33 |
| 2038 | -47 | 22 |
| 2039 | -67 | 12 |
| 2040 | -87 | 2 |
| 2041 | -108 | -7 |
| 2042 | -129 | -16 |
| 2043 | -150 | -25 |
| 2044 | -171 | -33 |
| 2045 | -192 | -40 |
| 2046 | -213 | -46 |
| 2047 | -234 | -52 |
| 2048 | -255 | -58 |
| 2049 | -276 | -63 |
| 2050 | -297 | -68 |
| 2051 | -318 | -74 |
| 2052 | -338 | -79 |
| 2053 | -359 | -84 |
| 2054 | -380 | -89 |
| 2055 | -401 | -95 |
| 2056 | -422 | -100 |
| 2057 | -444 | -106 |
| 2058 | -465 | -112 |
| 2059 | -487 | -118 |
| 2060 | -509 | -124 |
| 2061 | -531 | -131 |
| 2062 | -554 | -137 |
| 2063 | -577 | -145 |
| 2064 | -601 | -152 |
| 2065 | -625 | -160 |
| 2066 | -649 | -168 |
| 2067 | -674 | -177 |
| 2068 | -699 | -185 |
| 2069 | -724 | -194 |
| 2070 | -749 | -204 |
| 2071 | -776 | -214 |
| 2072 | -802 | -224 |
| 2073 | -830 | -234 |
| 2074 | -857 | -245 |
| 2075 | -885 | -256 |
| 2076 | -914 | -267 |
| 2077 | -944 | -279 |
| 2078 | -975 | -291 |
| 2079 | -1007 | -304 |
| 2080 | -1039 | -317 |
| 2081 | -1072 | -329 |
| 2082 | -1106 | -342 |
| 2083 | -1139 | -355 |
| 2084 | -1173 | -368 |
| 2085 | -1207 | -381 |
| 2086 | -1242 | -393 |
| 2087 | -1275 | -405 |
| 2088 | -1309 | -416 |
| 2089 | -1342 | -426 |
| 2090 | -1375 | -436 |
| 2091 | -1407 | -445 |
| 2092 | -1439 | -455 |
| 2093 | -1471 | -465 |
| 2094 | -1503 | -475 |
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