Proposed Provision: F5. Tax Reform for Business: Establish a value added tax (VAT) of 3.0 percent for 2022 and 6.5 percent for 2023 and later. Assume about 75% of personal consumption expenditures is subject to the VAT.
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 | 214 |
| 2024 | 200 | 194 |
| 2025 | 183 | 174 |
| 2026 | 165 | 154 |
| 2027 | 148 | 134 |
| 2028 | 130 | 114 |
| 2029 | 112 | 94 |
| 2030 | 94 | 74 |
| 2031 | 76 | 53 |
| 2032 | 58 | 33 |
| 2033 | 39 | 13 |
| 2034 | 20 | -8 |
| 2035 | 1 | -29 |
| 2036 | -19 | -51 |
| 2037 | -38 | -73 |
| 2038 | -59 | -95 |
| 2039 | -80 | -117 |
| 2040 | -101 | -140 |
| 2041 | -122 | -163 |
| 2042 | -144 | -186 |
| 2043 | -166 | -210 |
| 2044 | -188 | -234 |
| 2045 | -210 | -257 |
| 2046 | -232 | -281 |
| 2047 | -255 | -305 |
| 2048 | -277 | -328 |
| 2049 | -299 | -352 |
| 2050 | -322 | -376 |
| 2051 | -344 | -399 |
| 2052 | -367 | -422 |
| 2053 | -389 | -446 |
| 2054 | -412 | -469 |
| 2055 | -434 | -493 |
| 2056 | -457 | -516 |
| 2057 | -480 | -540 |
| 2058 | -504 | -564 |
| 2059 | -527 | -588 |
| 2060 | -551 | -612 |
| 2061 | -575 | -636 |
| 2062 | -599 | -661 |
| 2063 | -624 | -686 |
| 2064 | -650 | -712 |
| 2065 | -676 | -738 |
| 2066 | -702 | -765 |
| 2067 | -728 | -792 |
| 2068 | -755 | -819 |
| 2069 | -782 | -846 |
| 2070 | -809 | -874 |
| 2071 | -837 | -902 |
| 2072 | -866 | -931 |
| 2073 | -895 | -961 |
| 2074 | -925 | -991 |
| 2075 | -955 | -1022 |
| 2076 | -986 | -1053 |
| 2077 | -1018 | -1085 |
| 2078 | -1051 | -1118 |
| 2079 | -1084 | -1153 |
| 2080 | -1119 | -1188 |
| 2081 | -1154 | -1223 |
| 2082 | -1190 | -1260 |
| 2083 | -1226 | -1297 |
| 2084 | -1263 | -1334 |
| 2085 | -1300 | -1372 |
| 2086 | -1337 | -1410 |
| 2087 | -1374 | -1448 |
| 2088 | -1411 | -1485 |
| 2089 | -1448 | -1523 |
| 2090 | -1484 | -1559 |
| 2091 | -1520 | -1595 |
| 2092 | -1554 | -1631 |
| 2093 | -1589 | -1666 |
| 2094 | -1623 | -1700 |
| 2095 | -1657 | -1734 |
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