Proposed Provision: E3.14. Eliminate the taxable maximum for the employer payroll tax (6.2 percent) beginning in 2020. For the employee payroll tax (6.2 percent) and for benefit credit purposes, beginning in 2020, increase the taxable maximum by an additional 2 percent per year until taxable earnings equal 90 percent of covered earnings.

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

Year Current Law Provision
2019273273
2020260260
2021245253
2022229245
2023213237
2024197228
2025180219
2026163209
2027147200
2028130190
2029114181
203097172
203180163
203263153
203346144
203428135
203510126
2036-9117
2037-28107
2038-4798
2039-6788
2040-8778
2041-10867
2042-12957
2043-15047
2044-17137
2045-19228
2046-21318
2047-2349
2048-255-1
2049-276-10
2050-297-19
2051-318-28
2052-338-38
2053-359-47
2054-380-56
2055-401-65
2056-422-75
2057-444-84
2058-465-94
2059-487-105
2060-509-115
2061-531-126
2062-554-137
2063-577-149
2064-601-161
2065-625-173
2066-649-186
2067-674-199
2068-699-212
2069-724-226
2070-749-240
2071-776-255
2072-802-270
2073-830-286
2074-857-301
2075-885-318
2076-914-334
2077-944-351
2078-975-369
2079-1007-387
2080-1039-406
2081-1072-424
2082-1106-443
2083-1139-462
2084-1173-481
2085-1207-501
2086-1242-520
2087-1275-539
2088-1309-558
2089-1342-577
2090-1375-596
2091-1407-615
2092-1439-633
2093-1471-652
2094-1503-671
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