Proposed Provision: F5. Tax Reform for Business: Establish a value added tax (VAT) of 3.0 percent for 2023 and 6.5 percent for 2024 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 |
| 2021 | 253 | 253 |
| 2022 | 231 | 231 |
| 2023 | 214 | 214 |
| 2024 | 196 | 193 |
| 2025 | 178 | 172 |
| 2026 | 159 | 151 |
| 2027 | 141 | 130 |
| 2028 | 122 | 109 |
| 2029 | 104 | 88 |
| 2030 | 85 | 67 |
| 2031 | 66 | 46 |
| 2032 | 46 | 24 |
| 2033 | 27 | 3 |
| 2034 | 7 | -19 |
| 2035 | -13 | -41 |
| 2036 | -33 | -64 |
| 2037 | -54 | -86 |
| 2038 | -76 | -110 |
| 2039 | -97 | -133 |
| 2040 | -119 | -157 |
| 2041 | -142 | -182 |
| 2042 | -165 | -206 |
| 2043 | -188 | -231 |
| 2044 | -211 | -256 |
| 2045 | -235 | -281 |
| 2046 | -258 | -306 |
| 2047 | -282 | -331 |
| 2048 | -306 | -357 |
| 2049 | -330 | -382 |
| 2050 | -354 | -408 |
| 2051 | -378 | -433 |
| 2052 | -403 | -459 |
| 2053 | -427 | -484 |
| 2054 | -452 | -510 |
| 2055 | -477 | -535 |
| 2056 | -502 | -561 |
| 2057 | -527 | -587 |
| 2058 | -552 | -613 |
| 2059 | -578 | -639 |
| 2060 | -604 | -665 |
| 2061 | -630 | -692 |
| 2062 | -657 | -719 |
| 2063 | -684 | -747 |
| 2064 | -712 | -775 |
| 2065 | -740 | -803 |
| 2066 | -768 | -832 |
| 2067 | -796 | -861 |
| 2068 | -825 | -890 |
| 2069 | -855 | -920 |
| 2070 | -884 | -950 |
| 2071 | -914 | -980 |
| 2072 | -945 | -1011 |
| 2073 | -976 | -1042 |
| 2074 | -1007 | -1074 |
| 2075 | -1039 | -1106 |
| 2076 | -1071 | -1139 |
| 2077 | -1105 | -1173 |
| 2078 | -1139 | -1208 |
| 2079 | -1175 | -1244 |
| 2080 | -1211 | -1281 |
| 2081 | -1248 | -1319 |
| 2082 | -1286 | -1357 |
| 2083 | -1324 | -1396 |
| 2084 | -1363 | -1436 |
| 2085 | -1403 | -1476 |
| 2086 | -1443 | -1517 |
| 2087 | -1483 | -1558 |
| 2088 | -1524 | -1599 |
| 2089 | -1564 | -1641 |
| 2090 | -1604 | -1681 |
| 2091 | -1643 | -1721 |
| 2092 | -1681 | -1759 |
| 2093 | -1718 | -1796 |
| 2094 | -1754 | -1833 |
| 2095 | -1789 | -1869 |
| 2096 | -1825 | -1905 |
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