Proposed Provision: E2.15. Apply OASDI 12.4 percent payroll tax rate on earnings above $300,000 starting in 2026, and tax all earnings once the current-law taxable maximum exceeds $300,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2025 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 3 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 152 | 152 |
| 2027 | 134 | 145 |
| 2028 | 117 | 138 |
| 2029 | 101 | 132 |
| 2030 | 84 | 127 |
| 2031 | 68 | 122 |
| 2032 | 53 | 118 |
| 2033 | 37 | 114 |
| 2034 | 22 | 111 |
| 2035 | 7 | 109 |
| 2036 | -9 | 107 |
| 2037 | -26 | 104 |
| 2038 | -43 | 102 |
| 2039 | -60 | 100 |
| 2040 | -78 | 98 |
| 2041 | -96 | 95 |
| 2042 | -115 | 93 |
| 2043 | -135 | 90 |
| 2044 | -154 | 87 |
| 2045 | -174 | 83 |
| 2046 | -194 | 80 |
| 2047 | -215 | 76 |
| 2048 | -235 | 72 |
| 2049 | -256 | 68 |
| 2050 | -277 | 63 |
| 2051 | -299 | 59 |
| 2052 | -320 | 53 |
| 2053 | -342 | 48 |
| 2054 | -364 | 42 |
| 2055 | -386 | 36 |
| 2056 | -409 | 29 |
| 2057 | -431 | 22 |
| 2058 | -455 | 15 |
| 2059 | -478 | 7 |
| 2060 | -502 | -2 |
| 2061 | -527 | -11 |
| 2062 | -553 | -20 |
| 2063 | -579 | -30 |
| 2064 | -605 | -40 |
| 2065 | -632 | -50 |
| 2066 | -660 | -61 |
| 2067 | -688 | -72 |
| 2068 | -716 | -84 |
| 2069 | -745 | -96 |
| 2070 | -774 | -108 |
| 2071 | -803 | -121 |
| 2072 | -834 | -134 |
| 2073 | -864 | -148 |
| 2074 | -895 | -162 |
| 2075 | -927 | -176 |
| 2076 | -960 | -191 |
| 2077 | -993 | -206 |
| 2078 | -1027 | -221 |
| 2079 | -1062 | -237 |
| 2080 | -1098 | -253 |
| 2081 | -1134 | -270 |
| 2082 | -1172 | -286 |
| 2083 | -1209 | -303 |
| 2084 | -1248 | -320 |
| 2085 | -1287 | -337 |
| 2086 | -1327 | -354 |
| 2087 | -1368 | -371 |
| 2088 | -1409 | -389 |
| 2089 | -1450 | -406 |
| 2090 | -1491 | -423 |
| 2091 | -1532 | -440 |
| 2092 | -1573 | -456 |
| 2093 | -1612 | -472 |
| 2094 | -1651 | -488 |
| 2095 | -1689 | -504 |
| 2096 | -1727 | -520 |
| 2097 | -1764 | -536 |
| 2098 | -1801 | -551 |
| 2099 | -1838 | -567 |
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