Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2021-2026). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".
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 | 231 |
| 2023 | 213 | 218 |
| 2024 | 197 | 205 |
| 2025 | 180 | 193 |
| 2026 | 163 | 182 |
| 2027 | 147 | 172 |
| 2028 | 130 | 161 |
| 2029 | 114 | 150 |
| 2030 | 97 | 139 |
| 2031 | 80 | 129 |
| 2032 | 63 | 117 |
| 2033 | 46 | 106 |
| 2034 | 28 | 95 |
| 2035 | 10 | 83 |
| 2036 | -9 | 71 |
| 2037 | -28 | 59 |
| 2038 | -47 | 46 |
| 2039 | -67 | 33 |
| 2040 | -87 | 20 |
| 2041 | -108 | 6 |
| 2042 | -129 | -7 |
| 2043 | -150 | -21 |
| 2044 | -171 | -34 |
| 2045 | -192 | -48 |
| 2046 | -213 | -61 |
| 2047 | -234 | -75 |
| 2048 | -255 | -88 |
| 2049 | -276 | -101 |
| 2050 | -297 | -115 |
| 2051 | -318 | -128 |
| 2052 | -338 | -141 |
| 2053 | -359 | -155 |
| 2054 | -380 | -168 |
| 2055 | -401 | -182 |
| 2056 | -422 | -195 |
| 2057 | -444 | -209 |
| 2058 | -465 | -223 |
| 2059 | -487 | -237 |
| 2060 | -509 | -252 |
| 2061 | -531 | -267 |
| 2062 | -554 | -282 |
| 2063 | -577 | -298 |
| 2064 | -601 | -314 |
| 2065 | -625 | -330 |
| 2066 | -649 | -347 |
| 2067 | -674 | -364 |
| 2068 | -699 | -381 |
| 2069 | -724 | -399 |
| 2070 | -749 | -417 |
| 2071 | -776 | -435 |
| 2072 | -802 | -454 |
| 2073 | -830 | -474 |
| 2074 | -857 | -493 |
| 2075 | -885 | -513 |
| 2076 | -914 | -534 |
| 2077 | -944 | -555 |
| 2078 | -975 | -577 |
| 2079 | -1007 | -600 |
| 2080 | -1039 | -623 |
| 2081 | -1072 | -646 |
| 2082 | -1106 | -669 |
| 2083 | -1139 | -693 |
| 2084 | -1173 | -717 |
| 2085 | -1207 | -741 |
| 2086 | -1242 | -765 |
| 2087 | -1275 | -788 |
| 2088 | -1309 | -812 |
| 2089 | -1342 | -835 |
| 2090 | -1375 | -858 |
| 2091 | -1407 | -881 |
| 2092 | -1439 | -904 |
| 2093 | -1471 | -926 |
| 2094 | -1503 | -949 |
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