Detailed Single Year Tables
Description of Proposed Provision:
B7.7: Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2026 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2026, based on changes in the SSA average wage index.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.94 | -1.69 | 196 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.86 | 12.96 | -1.90 | 178 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.10 | 13.08 | -2.02 | 159 | -0.01 | -0.00 | 0.01 | ||
| 2027 | 15.35 | 13.10 | -2.25 | 141 | -0.02 | -0.00 | 0.01 | ||
| 2028 | 15.60 | 13.14 | -2.46 | 123 | -0.03 | -0.00 | 0.03 | ||
| 2029 | 15.82 | 13.17 | -2.65 | 104 | -0.06 | -0.00 | 0.05 | ||
| 2030 | 16.02 | 13.19 | -2.83 | 86 | -0.09 | -0.00 | 0.08 | ||
| 2031 | 16.15 | 13.20 | -2.95 | 67 | -0.13 | -0.01 | 0.13 | ||
| 2032 | 16.26 | 13.21 | -3.05 | 49 | -0.18 | -0.01 | 0.17 | ||
| 2033 | 16.33 | 13.22 | -3.12 | 30 | -0.22 | -0.01 | 0.21 | ||
| 2034 | 16.38 | 13.22 | -3.16 | 11 | -0.28 | -0.01 | 0.26 | ||
| 2035 | 16.41 | 13.23 | -3.18 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2036 | 16.42 | 13.23 | -3.19 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2037 | 16.43 | 13.23 | -3.20 | ---- | -0.43 | -0.02 | 0.41 | ||
| 2038 | 16.45 | 13.24 | -3.21 | ---- | -0.47 | -0.03 | 0.44 | ||
| 2039 | 16.45 | 13.24 | -3.21 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2040 | 16.44 | 13.24 | -3.20 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2041 | 16.45 | 13.24 | -3.21 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2042 | 16.45 | 13.24 | -3.21 | ---- | -0.59 | -0.03 | 0.56 | ||
| 2043 | 16.44 | 13.24 | -3.19 | ---- | -0.60 | -0.03 | 0.57 | ||
| 2044 | 16.43 | 13.24 | -3.19 | ---- | -0.61 | -0.03 | 0.58 | ||
| 2045 | 16.42 | 13.24 | -3.18 | ---- | -0.62 | -0.03 | 0.59 | ||
| 2046 | 16.42 | 13.25 | -3.18 | ---- | -0.63 | -0.03 | 0.60 | ||
| 2047 | 16.43 | 13.25 | -3.18 | ---- | -0.64 | -0.04 | 0.61 | ||
| 2048 | 16.44 | 13.25 | -3.19 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2049 | 16.46 | 13.25 | -3.21 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2050 | 16.48 | 13.25 | -3.22 | ---- | -0.66 | -0.04 | 0.63 | ||
| 2051 | 16.49 | 13.26 | -3.24 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2052 | 16.52 | 13.26 | -3.26 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2053 | 16.55 | 13.26 | -3.28 | ---- | -0.67 | -0.04 | 0.64 | ||
| 2054 | 16.58 | 13.26 | -3.31 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2055 | 16.61 | 13.27 | -3.34 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2056 | 16.65 | 13.27 | -3.38 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2057 | 16.69 | 13.28 | -3.42 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2058 | 16.74 | 13.28 | -3.46 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2059 | 16.79 | 13.28 | -3.51 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2060 | 16.84 | 13.29 | -3.55 | ---- | -0.71 | -0.04 | 0.67 | ||
| 2061 | 16.89 | 13.29 | -3.60 | ---- | -0.71 | -0.04 | 0.67 | ||
| 2062 | 16.94 | 13.30 | -3.64 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2063 | 16.98 | 13.30 | -3.68 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2064 | 17.03 | 13.30 | -3.72 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2065 | 17.08 | 13.31 | -3.77 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2066 | 17.12 | 13.31 | -3.81 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2067 | 17.17 | 13.32 | -3.86 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2068 | 17.22 | 13.32 | -3.90 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2069 | 17.28 | 13.32 | -3.95 | ---- | -0.74 | -0.04 | 0.69 | ||
| 2070 | 17.33 | 13.33 | -4.00 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2071 | 17.38 | 13.33 | -4.05 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2072 | 17.43 | 13.34 | -4.10 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2073 | 17.48 | 13.34 | -4.14 | ---- | -0.75 | -0.04 | 0.70 | ||
| 2074 | 17.53 | 13.34 | -4.18 | ---- | -0.75 | -0.04 | 0.70 | ||
| 2075 | 17.57 | 13.35 | -4.22 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2076 | 17.60 | 13.35 | -4.25 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2077 | 17.62 | 13.35 | -4.27 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2078 | 17.62 | 13.35 | -4.27 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2079 | 17.62 | 13.35 | -4.27 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2080 | 17.60 | 13.35 | -4.25 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2081 | 17.58 | 13.35 | -4.23 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2082 | 17.54 | 13.35 | -4.19 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2083 | 17.50 | 13.35 | -4.15 | ---- | -0.75 | -0.04 | 0.70 | ||
| 2084 | 17.45 | 13.34 | -4.11 | ---- | -0.75 | -0.04 | 0.70 | ||
| 2085 | 17.40 | 13.34 | -4.05 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2086 | 17.34 | 13.34 | -4.00 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2087 | 17.27 | 13.33 | -3.94 | ---- | -0.74 | -0.04 | 0.69 | ||
| 2088 | 17.20 | 13.33 | -3.87 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2089 | 17.14 | 13.33 | -3.81 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2090 | 17.09 | 13.32 | -3.76 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2091 | 17.04 | 13.32 | -3.72 | ---- | -0.73 | -0.04 | 0.68 | ||
| 2092 | 17.01 | 13.32 | -3.69 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2093 | 16.99 | 13.32 | -3.67 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2094 | 16.98 | 13.32 | -3.66 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2095 | 16.98 | 13.32 | -3.66 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2096 | 16.98 | 13.32 | -3.66 | ---- | -0.72 | -0.04 | 0.68 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 16.76% | 13.75% | -3.02% | 2034 | -0.55% | -0.03% | 0.52% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.