Proposed Provision: E2.17. Apply 12.4 percent payroll tax rate on earnings above $400,000 starting in 2025 and tax all earnings once the current-law taxable maximum exceeds $400,000. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 152 | 160 |
| 2027 | 134 | 151 |
| 2028 | 117 | 142 |
| 2029 | 101 | 134 |
| 2030 | 84 | 126 |
| 2031 | 68 | 119 |
| 2032 | 53 | 112 |
| 2033 | 37 | 107 |
| 2034 | 22 | 101 |
| 2035 | 7 | 96 |
| 2036 | -9 | 91 |
| 2037 | -26 | 86 |
| 2038 | -43 | 81 |
| 2039 | -60 | 75 |
| 2040 | -78 | 70 |
| 2041 | -96 | 65 |
| 2042 | -115 | 60 |
| 2043 | -135 | 55 |
| 2044 | -154 | 50 |
| 2045 | -174 | 46 |
| 2046 | -194 | 41 |
| 2047 | -215 | 37 |
| 2048 | -235 | 33 |
| 2049 | -256 | 29 |
| 2050 | -277 | 25 |
| 2051 | -299 | 20 |
| 2052 | -320 | 16 |
| 2053 | -342 | 10 |
| 2054 | -364 | 5 |
| 2055 | -386 | -1 |
| 2056 | -409 | -7 |
| 2057 | -431 | -14 |
| 2058 | -455 | -21 |
| 2059 | -478 | -28 |
| 2060 | -502 | -36 |
| 2061 | -527 | -45 |
| 2062 | -553 | -53 |
| 2063 | -579 | -63 |
| 2064 | -605 | -72 |
| 2065 | -632 | -82 |
| 2066 | -660 | -92 |
| 2067 | -688 | -103 |
| 2068 | -716 | -114 |
| 2069 | -745 | -125 |
| 2070 | -774 | -137 |
| 2071 | -803 | -149 |
| 2072 | -834 | -161 |
| 2073 | -864 | -174 |
| 2074 | -895 | -187 |
| 2075 | -927 | -201 |
| 2076 | -960 | -215 |
| 2077 | -993 | -229 |
| 2078 | -1027 | -244 |
| 2079 | -1062 | -259 |
| 2080 | -1098 | -274 |
| 2081 | -1134 | -289 |
| 2082 | -1172 | -305 |
| 2083 | -1209 | -321 |
| 2084 | -1248 | -337 |
| 2085 | -1287 | -353 |
| 2086 | -1327 | -369 |
| 2087 | -1368 | -386 |
| 2088 | -1409 | -402 |
| 2089 | -1450 | -418 |
| 2090 | -1491 | -434 |
| 2091 | -1532 | -450 |
| 2092 | -1573 | -465 |
| 2093 | -1612 | -481 |
| 2094 | -1651 | -496 |
| 2095 | -1689 | -510 |
| 2096 | -1727 | -525 |
| 2097 | -1764 | -539 |
| 2098 | -1801 | -554 |
| 2099 | -1838 | -568 |
back