Proposed Provision: E3.19. Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2023-2028). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 percent on this newly computed "AIME+".

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

Year Current Law Provision
2021253253
2022231231
2023214214
2024196197
2025178182
2026159168
2027141154
2028122141
2029104128
203085115
203166101
20324688
20332774
2034760
2035-1346
2036-3332
2037-5417
2038-763
2039-97-12
2040-119-28
2041-142-43
2042-165-59
2043-188-75
2044-211-91
2045-235-107
2046-258-124
2047-282-140
2048-306-157
2049-330-173
2050-354-190
2051-378-207
2052-403-224
2053-427-242
2054-452-259
2055-477-277
2056-502-294
2057-527-312
2058-552-330
2059-578-349
2060-604-367
2061-630-386
2062-657-406
2063-684-426
2064-712-446
2065-740-466
2066-768-487
2067-796-508
2068-825-530
2069-855-551
2070-884-573
2071-914-596
2072-945-619
2073-976-642
2074-1007-665
2075-1039-689
2076-1071-714
2077-1105-739
2078-1139-765
2079-1175-792
2080-1211-819
2081-1248-847
2082-1286-875
2083-1324-904
2084-1363-933
2085-1403-962
2086-1443-992
2087-1483-1022
2088-1524-1052
2089-1564-1081
2090-1604-1110
2091-1643-1139
2092-1681-1167
2093-1718-1193
2094-1754-1220
2095-1789-1246
2096-1825-1272
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