Proposed Provision: E3.7. Increase the taxable maximum by an additional 2 percent per year beginning in 2021 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.

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

Year Current Law Provision
2019273273
2020260260
2021245245
2022229230
2023213214
2024197198
2025180183
2026163167
2027147152
2028130137
2029114122
203097108
20318093
20326378
20334663
20342849
20351033
2036-918
2037-282
2038-47-14
2039-67-30
2040-87-46
2041-108-62
2042-129-78
2043-150-95
2044-171-111
2045-192-127
2046-213-143
2047-234-158
2048-255-174
2049-276-189
2050-297-204
2051-318-219
2052-338-234
2053-359-249
2054-380-263
2055-401-278
2056-422-293
2057-444-308
2058-465-323
2059-487-338
2060-509-353
2061-531-369
2062-554-386
2063-577-403
2064-601-420
2065-625-437
2066-649-455
2067-674-473
2068-699-492
2069-724-511
2070-749-530
2071-776-550
2072-802-571
2073-830-591
2074-857-613
2075-885-634
2076-914-657
2077-944-680
2078-975-704
2079-1007-728
2080-1039-753
2081-1072-779
2082-1106-804
2083-1139-830
2084-1173-857
2085-1207-883
2086-1242-909
2087-1275-935
2088-1309-961
2089-1342-987
2090-1375-1012
2091-1407-1037
2092-1439-1062
2093-1471-1087
2094-1503-1112
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