Proposed Provision: E1.10. Increase the payroll tax rate by 0.1 percentage point per year for 2022 through 2031 so that it equals 13.4 percent for 2031 and later. The increase would be split evenly between the employer and employee share, and would be split between OASI and DI in proportion to currently scheduled payroll tax rates.

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

Year Current Law Provision
2020261261
2021248248
2022233233
2023217217
2024200202
2025183186
2026165171
2027148157
2028130142
2029112128
203094114
203176101
20325888
20333975
20342062
2035149
2036-1935
2037-3821
2038-597
2039-80-8
2040-101-23
2041-122-38
2042-144-53
2043-166-69
2044-188-84
2045-210-100
2046-232-116
2047-255-131
2048-277-147
2049-299-163
2050-322-178
2051-344-194
2052-367-210
2053-389-226
2054-412-242
2055-434-258
2056-457-274
2057-480-291
2058-504-308
2059-527-324
2060-551-342
2061-575-359
2062-599-377
2063-624-396
2064-650-414
2065-676-433
2066-702-453
2067-728-473
2068-755-493
2069-782-513
2070-809-534
2071-837-555
2072-866-577
2073-895-599
2074-925-622
2075-955-645
2076-986-669
2077-1018-693
2078-1051-718
2079-1084-744
2080-1119-770
2081-1154-797
2082-1190-824
2083-1226-852
2084-1263-879
2085-1300-907
2086-1337-936
2087-1374-964
2088-1411-991
2089-1448-1019
2090-1484-1046
2091-1520-1073
2092-1554-1099
2093-1589-1125
2094-1623-1151
2095-1657-1177
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