Proposed Provision: E3.15. Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2025-2034). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2025-2034). Provide benefit credit for earnings taxed up to the revised taxable maximum.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 152 | 154 |
| 2027 | 134 | 139 |
| 2028 | 117 | 127 |
| 2029 | 101 | 116 |
| 2030 | 84 | 107 |
| 2031 | 68 | 98 |
| 2032 | 53 | 91 |
| 2033 | 37 | 85 |
| 2034 | 22 | 80 |
| 2035 | 7 | 75 |
| 2036 | -9 | 71 |
| 2037 | -26 | 65 |
| 2038 | -43 | 59 |
| 2039 | -60 | 53 |
| 2040 | -78 | 46 |
| 2041 | -96 | 39 |
| 2042 | -115 | 32 |
| 2043 | -135 | 24 |
| 2044 | -154 | 17 |
| 2045 | -174 | 8 |
| 2046 | -194 | 0 |
| 2047 | -215 | -8 |
| 2048 | -235 | -17 |
| 2049 | -256 | -26 |
| 2050 | -277 | -36 |
| 2051 | -299 | -45 |
| 2052 | -320 | -55 |
| 2053 | -342 | -65 |
| 2054 | -364 | -76 |
| 2055 | -386 | -87 |
| 2056 | -409 | -98 |
| 2057 | -431 | -110 |
| 2058 | -455 | -123 |
| 2059 | -478 | -135 |
| 2060 | -502 | -149 |
| 2061 | -527 | -162 |
| 2062 | -553 | -177 |
| 2063 | -579 | -191 |
| 2064 | -605 | -207 |
| 2065 | -632 | -222 |
| 2066 | -660 | -239 |
| 2067 | -688 | -255 |
| 2068 | -716 | -272 |
| 2069 | -745 | -289 |
| 2070 | -774 | -307 |
| 2071 | -803 | -325 |
| 2072 | -834 | -344 |
| 2073 | -864 | -363 |
| 2074 | -895 | -383 |
| 2075 | -927 | -403 |
| 2076 | -960 | -423 |
| 2077 | -993 | -444 |
| 2078 | -1027 | -466 |
| 2079 | -1062 | -488 |
| 2080 | -1098 | -511 |
| 2081 | -1134 | -534 |
| 2082 | -1172 | -557 |
| 2083 | -1209 | -581 |
| 2084 | -1248 | -605 |
| 2085 | -1287 | -630 |
| 2086 | -1327 | -655 |
| 2087 | -1368 | -680 |
| 2088 | -1409 | -705 |
| 2089 | -1450 | -730 |
| 2090 | -1491 | -756 |
| 2091 | -1532 | -781 |
| 2092 | -1573 | -805 |
| 2093 | -1612 | -830 |
| 2094 | -1651 | -853 |
| 2095 | -1689 | -877 |
| 2096 | -1727 | -900 |
| 2097 | -1764 | -923 |
| 2098 | -1801 | -946 |
| 2099 | -1838 | -969 |
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