Proposed Provision: E2.8. Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2023-2070, and a 3 percent rate for years 2071 and later. Do not 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
2022233233
2023217217
2024200203
2025183188
2026165173
2027148158
2028130142
2029112126
203094110
20317694
20325878
20333962
20342046
2035129
2036-1912
2037-38-5
2038-59-23
2039-80-41
2040-101-60
2041-122-78
2042-144-97
2043-166-116
2044-188-136
2045-210-155
2046-232-174
2047-255-194
2048-277-213
2049-299-233
2050-322-252
2051-344-272
2052-367-291
2053-389-311
2054-412-331
2055-434-351
2056-457-371
2057-480-391
2058-504-411
2059-527-432
2060-551-453
2061-575-474
2062-599-496
2063-624-518
2064-650-541
2065-676-564
2066-702-587
2067-728-610
2068-755-634
2069-782-659
2070-809-683
2071-837-708
2072-866-733
2073-895-758
2074-925-783
2075-955-810
2076-986-836
2077-1018-864
2078-1051-892
2079-1084-921
2080-1119-951
2081-1154-981
2082-1190-1012
2083-1226-1043
2084-1263-1075
2085-1300-1107
2086-1337-1139
2087-1374-1171
2088-1411-1202
2089-1448-1234
2090-1484-1265
2091-1520-1295
2092-1554-1325
2093-1589-1354
2094-1623-1384
2095-1657-1413
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