Proposed Provision: E2.2. Eliminate the taxable maximum in years 2021 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

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

Year Current Law Provision
2020261261
2021248248
2022233248
2023217247
2024200244
2025183241
2026165236
2027148231
2028130224
2029112218
203094211
203176205
203258199
203339192
203420186
20351180
2036-19174
2037-38168
2038-59161
2039-80155
2040-101147
2041-122140
2042-144133
2043-166125
2044-188117
2045-210110
2046-232102
2047-25594
2048-27786
2049-29977
2050-32269
2051-34460
2052-36751
2053-38942
2054-41233
2055-43423
2056-45713
2057-4803
2058-504-8
2059-527-18
2060-551-30
2061-575-42
2062-599-54
2063-624-66
2064-650-79
2065-676-92
2066-702-106
2067-728-120
2068-755-135
2069-782-150
2070-809-165
2071-837-181
2072-866-197
2073-895-214
2074-925-231
2075-955-248
2076-986-266
2077-1018-284
2078-1051-303
2079-1084-322
2080-1119-341
2081-1154-361
2082-1190-381
2083-1226-401
2084-1263-421
2085-1300-441
2086-1337-461
2087-1374-482
2088-1411-502
2089-1448-522
2090-1484-541
2091-1520-561
2092-1554-580
2093-1589-600
2094-1623-619
2095-1657-638
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