Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2020, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2019273273
2020260260
2021245254
2022229248
2023213242
2024197235
2025180228
2026163220
2027147213
2028130206
2029114199
203097193
203180188
203263182
203346178
203428173
203510169
2036-9166
2037-28162
2038-47158
2039-67153
2040-87149
2041-108144
2042-129140
2043-150136
2044-171132
2045-192128
2046-213124
2047-234120
2048-255117
2049-276113
2050-297110
2051-318106
2052-338103
2053-359100
2054-38096
2055-40192
2056-42289
2057-44485
2058-46580
2059-48776
2060-50971
2061-53166
2062-55461
2063-57755
2064-60149
2065-62543
2066-64936
2067-67430
2068-69923
2069-72415
2070-7497
2071-776-1
2072-802-9
2073-830-18
2074-857-27
2075-885-36
2076-914-45
2077-944-55
2078-975-65
2079-1007-75
2080-1039-85
2081-1072-95
2082-1106-105
2083-1139-116
2084-1173-126
2085-1207-136
2086-1242-146
2087-1275-156
2088-1309-166
2089-1342-176
2090-1375-186
2091-1407-196
2092-1439-206
2093-1471-216
2094-1503-227
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