Proposed Provision: E3.10. Beginning in 2027, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $432,600 in 2027), with the threshold wage-indexed after 2027. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

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

Year Current Law Provision
2019273273
2020260260
2021245245
2022229229
2023213213
2024197197
2025180180
2026163163
2027147147
2028130131
2029114116
203097101
20318085
20326369
20334653
20342836
20351019
2036-92
2037-28-16
2038-47-34
2039-67-52
2040-87-71
2041-108-91
2042-129-110
2043-150-130
2044-171-149
2045-192-169
2046-213-189
2047-234-208
2048-255-228
2049-276-247
2050-297-267
2051-318-287
2052-338-306
2053-359-326
2054-380-345
2055-401-365
2056-422-385
2057-444-405
2058-465-425
2059-487-445
2060-509-466
2061-531-487
2062-554-509
2063-577-531
2064-601-553
2065-625-576
2066-649-599
2067-674-622
2068-699-646
2069-724-670
2070-749-694
2071-776-719
2072-802-745
2073-830-771
2074-857-797
2075-885-824
2076-914-852
2077-944-881
2078-975-910
2079-1007-941
2080-1039-972
2081-1072-1003
2082-1106-1035
2083-1139-1067
2084-1173-1100
2085-1207-1132
2086-1242-1165
2087-1275-1198
2088-1309-1230
2089-1342-1261
2090-1375-1293
2091-1407-1324
2092-1439-1354
2093-1471-1385
2094-1503-1416
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