Detailed Single Year Tables
Description of Proposed Provision:
E1.8: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2027-2032, until the rate reaches 13.0 percent for 2032 and later.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.20 | -2.16 | 134 | 0.00 | 0.09 | 0.09 | ||
| 2028 | 15.42 | 13.32 | -2.10 | 118 | -0.00 | 0.19 | 0.19 | ||
| 2029 | 15.47 | 13.45 | -2.02 | 102 | -0.00 | 0.28 | 0.28 | ||
| 2030 | 15.53 | 13.56 | -1.97 | 88 | -0.00 | 0.38 | 0.38 | ||
| 2031 | 15.57 | 13.68 | -1.90 | 74 | -0.00 | 0.47 | 0.48 | ||
| 2032 | 15.60 | 13.79 | -1.81 | 61 | -0.00 | 0.57 | 0.57 | ||
| 2033 | 15.66 | 13.84 | -1.82 | 50 | -0.00 | 0.57 | 0.57 | ||
| 2034 | 15.77 | 13.85 | -1.92 | 38 | -0.00 | 0.57 | 0.58 | ||
| 2035 | 15.88 | 13.86 | -2.02 | 26 | -0.00 | 0.57 | 0.58 | ||
| 2036 | 15.98 | 13.87 | -2.12 | 13 | -0.00 | 0.57 | 0.58 | ||
| 2037 | 16.09 | 13.88 | -2.21 | 1 | -0.01 | 0.57 | 0.58 | ||
| 2038 | 16.17 | 13.88 | -2.28 | — | -0.01 | 0.57 | 0.58 | ||
| 2039 | 16.24 | 13.89 | -2.35 | — | -0.01 | 0.57 | 0.58 | ||
| 2040 | 16.31 | 13.90 | -2.41 | — | -0.01 | 0.57 | 0.58 | ||
| 2041 | 16.37 | 13.90 | -2.47 | — | -0.01 | 0.57 | 0.58 | ||
| 2042 | 16.42 | 13.91 | -2.52 | — | -0.01 | 0.57 | 0.59 | ||
| 2043 | 16.47 | 13.91 | -2.56 | — | -0.01 | 0.57 | 0.59 | ||
| 2044 | 16.50 | 13.91 | -2.59 | — | -0.02 | 0.57 | 0.59 | ||
| 2045 | 16.53 | 13.92 | -2.62 | — | -0.02 | 0.57 | 0.59 | ||
| 2046 | 16.57 | 13.92 | -2.65 | — | -0.02 | 0.57 | 0.59 | ||
| 2047 | 16.60 | 13.92 | -2.68 | — | -0.02 | 0.57 | 0.59 | ||
| 2048 | 16.64 | 13.93 | -2.72 | — | -0.02 | 0.57 | 0.59 | ||
| 2049 | 16.69 | 13.93 | -2.75 | — | -0.02 | 0.57 | 0.59 | ||
| 2050 | 16.74 | 13.94 | -2.80 | — | -0.02 | 0.57 | 0.60 | ||
| 2051 | 16.79 | 13.94 | -2.85 | — | -0.02 | 0.57 | 0.60 | ||
| 2052 | 16.84 | 13.95 | -2.90 | — | -0.03 | 0.57 | 0.60 | ||
| 2053 | 16.91 | 13.95 | -2.96 | — | -0.03 | 0.57 | 0.60 | ||
| 2054 | 16.97 | 13.96 | -3.02 | — | -0.03 | 0.57 | 0.60 | ||
| 2055 | 17.05 | 13.96 | -3.09 | — | -0.03 | 0.57 | 0.60 | ||
| 2056 | 17.13 | 13.97 | -3.16 | — | -0.03 | 0.57 | 0.60 | ||
| 2057 | 17.21 | 13.98 | -3.24 | — | -0.03 | 0.57 | 0.60 | ||
| 2058 | 17.30 | 13.98 | -3.32 | — | -0.03 | 0.57 | 0.60 | ||
| 2059 | 17.38 | 13.99 | -3.39 | — | -0.03 | 0.57 | 0.60 | ||
| 2060 | 17.47 | 14.00 | -3.47 | — | -0.03 | 0.57 | 0.61 | ||
| 2061 | 17.55 | 14.00 | -3.55 | — | -0.03 | 0.57 | 0.61 | ||
| 2062 | 17.62 | 14.01 | -3.61 | — | -0.03 | 0.57 | 0.61 | ||
| 2063 | 17.69 | 14.01 | -3.67 | — | -0.03 | 0.57 | 0.61 | ||
| 2064 | 17.75 | 14.02 | -3.73 | — | -0.04 | 0.57 | 0.61 | ||
| 2065 | 17.82 | 14.03 | -3.79 | — | -0.04 | 0.57 | 0.61 | ||
| 2066 | 17.88 | 14.03 | -3.85 | — | -0.04 | 0.57 | 0.61 | ||
| 2067 | 17.94 | 14.04 | -3.91 | — | -0.04 | 0.57 | 0.61 | ||
| 2068 | 18.01 | 14.04 | -3.97 | — | -0.04 | 0.57 | 0.61 | ||
| 2069 | 18.08 | 14.05 | -4.03 | — | -0.04 | 0.57 | 0.61 | ||
| 2070 | 18.15 | 14.05 | -4.10 | — | -0.04 | 0.57 | 0.61 | ||
| 2071 | 18.21 | 14.06 | -4.16 | — | -0.04 | 0.57 | 0.61 | ||
| 2072 | 18.28 | 14.06 | -4.22 | — | -0.04 | 0.57 | 0.61 | ||
| 2073 | 18.34 | 14.07 | -4.27 | — | -0.04 | 0.57 | 0.61 | ||
| 2074 | 18.39 | 14.07 | -4.32 | — | -0.04 | 0.57 | 0.61 | ||
| 2075 | 18.45 | 14.08 | -4.37 | — | -0.04 | 0.57 | 0.61 | ||
| 2076 | 18.49 | 14.08 | -4.41 | — | -0.04 | 0.57 | 0.61 | ||
| 2077 | 18.52 | 14.08 | -4.44 | — | -0.04 | 0.57 | 0.61 | ||
| 2078 | 18.55 | 14.08 | -4.46 | — | -0.04 | 0.57 | 0.61 | ||
| 2079 | 18.56 | 14.09 | -4.47 | — | -0.04 | 0.57 | 0.61 | ||
| 2080 | 18.56 | 14.09 | -4.47 | — | -0.04 | 0.57 | 0.61 | ||
| 2081 | 18.55 | 14.09 | -4.46 | — | -0.04 | 0.57 | 0.61 | ||
| 2082 | 18.53 | 14.09 | -4.45 | — | -0.04 | 0.57 | 0.61 | ||
| 2083 | 18.51 | 14.09 | -4.42 | — | -0.04 | 0.57 | 0.61 | ||
| 2084 | 18.48 | 14.08 | -4.39 | — | -0.04 | 0.57 | 0.61 | ||
| 2085 | 18.43 | 14.08 | -4.35 | — | -0.04 | 0.57 | 0.61 | ||
| 2086 | 18.38 | 14.08 | -4.30 | — | -0.04 | 0.57 | 0.61 | ||
| 2087 | 18.33 | 14.08 | -4.25 | — | -0.04 | 0.57 | 0.61 | ||
| 2088 | 18.27 | 14.07 | -4.20 | — | -0.04 | 0.57 | 0.61 | ||
| 2089 | 18.21 | 14.07 | -4.14 | — | -0.04 | 0.57 | 0.61 | ||
| 2090 | 18.15 | 14.06 | -4.09 | — | -0.04 | 0.57 | 0.61 | ||
| 2091 | 18.11 | 14.06 | -4.04 | — | -0.04 | 0.57 | 0.61 | ||
| 2092 | 18.07 | 14.06 | -4.01 | — | -0.04 | 0.57 | 0.61 | ||
| 2093 | 18.04 | 14.06 | -3.99 | — | -0.04 | 0.57 | 0.61 | ||
| 2094 | 18.03 | 14.06 | -3.98 | — | -0.04 | 0.57 | 0.61 | ||
| 2095 | 18.03 | 14.06 | -3.97 | — | -0.04 | 0.57 | 0.61 | ||
| 2096 | 18.04 | 14.06 | -3.98 | — | -0.04 | 0.57 | 0.61 | ||
| 2097 | 18.06 | 14.06 | -4.00 | — | -0.04 | 0.57 | 0.61 | ||
| 2098 | 18.09 | 14.06 | -4.03 | — | -0.04 | 0.57 | 0.61 | ||
| 2099 | 18.12 | 14.06 | -4.06 | — | -0.04 | 0.57 | 0.61 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.27% | 14.32% | -2.95% | 2037 | -0.02% | 0.52% | 0.55% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.