Proposed Provision: E3.7. Increase the taxable maximum by an additional 2 percent per year beginning in 2022 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 |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 233 |
| 2023 | 217 | 217 |
| 2024 | 200 | 201 |
| 2025 | 183 | 184 |
| 2026 | 165 | 168 |
| 2027 | 148 | 151 |
| 2028 | 130 | 135 |
| 2029 | 112 | 119 |
| 2030 | 94 | 102 |
| 2031 | 76 | 86 |
| 2032 | 58 | 70 |
| 2033 | 39 | 54 |
| 2034 | 20 | 37 |
| 2035 | 1 | 21 |
| 2036 | -19 | 5 |
| 2037 | -38 | -12 |
| 2038 | -59 | -29 |
| 2039 | -80 | -46 |
| 2040 | -101 | -64 |
| 2041 | -122 | -81 |
| 2042 | -144 | -99 |
| 2043 | -166 | -116 |
| 2044 | -188 | -134 |
| 2045 | -210 | -151 |
| 2046 | -232 | -169 |
| 2047 | -255 | -186 |
| 2048 | -277 | -203 |
| 2049 | -299 | -220 |
| 2050 | -322 | -237 |
| 2051 | -344 | -254 |
| 2052 | -367 | -271 |
| 2053 | -389 | -288 |
| 2054 | -412 | -304 |
| 2055 | -434 | -321 |
| 2056 | -457 | -338 |
| 2057 | -480 | -355 |
| 2058 | -504 | -372 |
| 2059 | -527 | -390 |
| 2060 | -551 | -407 |
| 2061 | -575 | -425 |
| 2062 | -599 | -443 |
| 2063 | -624 | -462 |
| 2064 | -650 | -481 |
| 2065 | -676 | -501 |
| 2066 | -702 | -521 |
| 2067 | -728 | -541 |
| 2068 | -755 | -562 |
| 2069 | -782 | -583 |
| 2070 | -809 | -605 |
| 2071 | -837 | -627 |
| 2072 | -866 | -649 |
| 2073 | -895 | -672 |
| 2074 | -925 | -696 |
| 2075 | -955 | -720 |
| 2076 | -986 | -744 |
| 2077 | -1018 | -770 |
| 2078 | -1051 | -796 |
| 2079 | -1084 | -823 |
| 2080 | -1119 | -850 |
| 2081 | -1154 | -879 |
| 2082 | -1190 | -907 |
| 2083 | -1226 | -936 |
| 2084 | -1263 | -965 |
| 2085 | -1300 | -995 |
| 2086 | -1337 | -1025 |
| 2087 | -1374 | -1054 |
| 2088 | -1411 | -1084 |
| 2089 | -1448 | -1113 |
| 2090 | -1484 | -1142 |
| 2091 | -1520 | -1170 |
| 2092 | -1554 | -1198 |
| 2093 | -1589 | -1226 |
| 2094 | -1623 | -1253 |
| 2095 | -1657 | -1280 |
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