Proposed Provision: H2. Starting in 2022, tax Social Security benefits in a manner similar to private pension income. Phase out the lower-income thresholds during 2022-2041.

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

Year Current Law Provision
2021253253
2022231231
2023214214
2024196197
2025178180
2026159162
2027141145
2028122128
2029104110
20308593
20316675
20324657
20332739
2034721
2035-132
2036-33-16
2037-54-36
2038-76-55
2039-97-75
2040-119-96
2041-142-116
2042-165-137
2043-188-159
2044-211-180
2045-235-202
2046-258-224
2047-282-246
2048-306-268
2049-330-291
2050-354-313
2051-378-336
2052-403-359
2053-427-382
2054-452-405
2055-477-429
2056-502-452
2057-527-476
2058-552-500
2059-578-524
2060-604-548
2061-630-573
2062-657-599
2063-684-624
2064-712-651
2065-740-677
2066-768-704
2067-796-731
2068-825-759
2069-855-787
2070-884-815
2071-914-844
2072-945-873
2073-976-902
2074-1007-932
2075-1039-962
2076-1071-994
2077-1105-1026
2078-1139-1059
2079-1175-1093
2080-1211-1127
2081-1248-1162
2082-1286-1198
2083-1324-1235
2084-1363-1272
2085-1403-1310
2086-1443-1348
2087-1483-1386
2088-1524-1425
2089-1564-1464
2090-1604-1502
2091-1643-1539
2092-1681-1575
2093-1718-1610
2094-1754-1644
2095-1789-1678
2096-1825-1712
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