Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2021, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2020261261
2021248248
2022233242
2023217236
2024200228
2025183221
2026165212
2027148204
2028130195
2029112187
203094178
203176171
203258163
203339156
203420150
20351144
2036-19139
2037-38133
2038-59128
2039-80122
2040-101116
2041-122110
2042-144104
2043-16699
2044-18893
2045-21087
2046-23281
2047-25575
2048-27769
2049-29964
2050-32258
2051-34452
2052-36746
2053-38940
2054-41234
2055-43427
2056-45721
2057-48014
2058-5047
2059-5270
2060-551-8
2061-575-16
2062-599-24
2063-624-33
2064-650-41
2065-676-51
2066-702-60
2067-728-70
2068-755-80
2069-782-91
2070-809-102
2071-837-113
2072-866-124
2073-895-136
2074-925-149
2075-955-161
2076-986-174
2077-1018-187
2078-1051-201
2079-1084-215
2080-1119-229
2081-1154-243
2082-1190-257
2083-1226-271
2084-1263-286
2085-1300-300
2086-1337-315
2087-1374-329
2088-1411-343
2089-1448-357
2090-1484-371
2091-1520-384
2092-1554-398
2093-1589-411
2094-1623-424
2095-1657-438
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