Detailed Single Year Tables
Description of Proposed Provision:
E3.13: Beginning in 2032, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $732,000 in 2032), with the threshold wage-indexed after 2032. Do not provide benefit credit for additional earnings taxed.
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 | 13.11 | -2.25 | 134 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.42 | 13.13 | -2.28 | 117 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.47 | 13.16 | -2.31 | 101 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 15.53 | 13.18 | -2.35 | 84 | 0.00 | 0.00 | 0.00 | ||
| 2031 | 15.58 | 13.20 | -2.37 | 68 | 0.00 | 0.00 | 0.00 | ||
| 2032 | 15.60 | 13.39 | -2.22 | 53 | 0.00 | 0.17 | 0.17 | ||
| 2033 | 15.66 | 13.44 | -2.22 | 38 | -0.00 | 0.17 | 0.17 | ||
| 2034 | 15.77 | 13.45 | -2.32 | 24 | -0.00 | 0.17 | 0.17 | ||
| 2035 | 15.88 | 13.46 | -2.43 | 10 | -0.00 | 0.17 | 0.17 | ||
| 2036 | 15.99 | 13.47 | -2.52 | — | -0.00 | 0.17 | 0.17 | ||
| 2037 | 16.09 | 13.48 | -2.61 | — | -0.00 | 0.17 | 0.17 | ||
| 2038 | 16.18 | 13.48 | -2.69 | — | -0.00 | 0.17 | 0.17 | ||
| 2039 | 16.25 | 13.49 | -2.76 | — | -0.00 | 0.17 | 0.17 | ||
| 2040 | 16.32 | 13.50 | -2.82 | — | -0.00 | 0.17 | 0.17 | ||
| 2041 | 16.38 | 13.50 | -2.88 | — | -0.00 | 0.17 | 0.17 | ||
| 2042 | 16.43 | 13.51 | -2.93 | — | -0.00 | 0.17 | 0.18 | ||
| 2043 | 16.48 | 13.51 | -2.97 | — | -0.00 | 0.17 | 0.18 | ||
| 2044 | 16.52 | 13.51 | -3.00 | — | -0.00 | 0.17 | 0.18 | ||
| 2045 | 16.55 | 13.52 | -3.03 | — | -0.00 | 0.17 | 0.18 | ||
| 2046 | 16.58 | 13.52 | -3.06 | — | -0.00 | 0.17 | 0.18 | ||
| 2047 | 16.62 | 13.52 | -3.10 | — | -0.00 | 0.17 | 0.18 | ||
| 2048 | 16.66 | 13.53 | -3.13 | — | -0.00 | 0.17 | 0.18 | ||
| 2049 | 16.70 | 13.53 | -3.17 | — | -0.00 | 0.17 | 0.18 | ||
| 2050 | 16.75 | 13.54 | -3.22 | — | -0.01 | 0.17 | 0.18 | ||
| 2051 | 16.81 | 13.54 | -3.26 | — | -0.01 | 0.17 | 0.18 | ||
| 2052 | 16.86 | 13.55 | -3.32 | — | -0.01 | 0.17 | 0.18 | ||
| 2053 | 16.93 | 13.55 | -3.38 | — | -0.01 | 0.17 | 0.18 | ||
| 2054 | 17.00 | 13.56 | -3.44 | — | -0.01 | 0.17 | 0.18 | ||
| 2055 | 17.07 | 13.56 | -3.51 | — | -0.01 | 0.17 | 0.18 | ||
| 2056 | 17.15 | 13.57 | -3.58 | — | -0.01 | 0.17 | 0.18 | ||
| 2057 | 17.24 | 13.58 | -3.66 | — | -0.01 | 0.17 | 0.18 | ||
| 2058 | 17.32 | 13.58 | -3.74 | — | -0.01 | 0.17 | 0.18 | ||
| 2059 | 17.41 | 13.59 | -3.82 | — | -0.01 | 0.17 | 0.18 | ||
| 2060 | 17.50 | 13.60 | -3.90 | — | -0.01 | 0.17 | 0.18 | ||
| 2061 | 17.58 | 13.60 | -3.97 | — | -0.01 | 0.17 | 0.18 | ||
| 2062 | 17.65 | 13.61 | -4.04 | — | -0.01 | 0.17 | 0.18 | ||
| 2063 | 17.72 | 13.62 | -4.10 | — | -0.01 | 0.17 | 0.18 | ||
| 2064 | 17.78 | 13.62 | -4.16 | — | -0.01 | 0.17 | 0.18 | ||
| 2065 | 17.85 | 13.63 | -4.22 | — | -0.01 | 0.17 | 0.18 | ||
| 2066 | 17.91 | 13.63 | -4.28 | — | -0.01 | 0.17 | 0.18 | ||
| 2067 | 17.97 | 13.64 | -4.34 | — | -0.01 | 0.17 | 0.18 | ||
| 2068 | 18.04 | 13.64 | -4.40 | — | -0.01 | 0.17 | 0.18 | ||
| 2069 | 18.11 | 13.65 | -4.46 | — | -0.01 | 0.17 | 0.18 | ||
| 2070 | 18.18 | 13.65 | -4.52 | — | -0.01 | 0.17 | 0.18 | ||
| 2071 | 18.24 | 13.66 | -4.59 | — | -0.01 | 0.17 | 0.18 | ||
| 2072 | 18.31 | 13.66 | -4.64 | — | -0.01 | 0.17 | 0.18 | ||
| 2073 | 18.37 | 13.67 | -4.70 | — | -0.01 | 0.17 | 0.18 | ||
| 2074 | 18.43 | 13.67 | -4.75 | — | -0.01 | 0.17 | 0.18 | ||
| 2075 | 18.48 | 13.68 | -4.80 | — | -0.01 | 0.17 | 0.18 | ||
| 2076 | 18.52 | 13.68 | -4.84 | — | -0.01 | 0.17 | 0.18 | ||
| 2077 | 18.55 | 13.68 | -4.87 | — | -0.01 | 0.17 | 0.18 | ||
| 2078 | 18.58 | 13.69 | -4.89 | — | -0.01 | 0.17 | 0.18 | ||
| 2079 | 18.59 | 13.69 | -4.90 | — | -0.01 | 0.17 | 0.18 | ||
| 2080 | 18.59 | 13.69 | -4.90 | — | -0.01 | 0.17 | 0.18 | ||
| 2081 | 18.58 | 13.69 | -4.89 | — | -0.01 | 0.17 | 0.18 | ||
| 2082 | 18.57 | 13.69 | -4.88 | — | -0.01 | 0.17 | 0.18 | ||
| 2083 | 18.54 | 13.69 | -4.85 | — | -0.01 | 0.17 | 0.18 | ||
| 2084 | 18.51 | 13.68 | -4.82 | — | -0.01 | 0.17 | 0.18 | ||
| 2085 | 18.46 | 13.68 | -4.78 | — | -0.01 | 0.17 | 0.18 | ||
| 2086 | 18.41 | 13.68 | -4.74 | — | -0.01 | 0.17 | 0.18 | ||
| 2087 | 18.36 | 13.68 | -4.68 | — | -0.01 | 0.17 | 0.18 | ||
| 2088 | 18.30 | 13.67 | -4.63 | — | -0.01 | 0.17 | 0.18 | ||
| 2089 | 18.24 | 13.67 | -4.57 | — | -0.01 | 0.17 | 0.18 | ||
| 2090 | 18.18 | 13.66 | -4.52 | — | -0.01 | 0.17 | 0.18 | ||
| 2091 | 18.14 | 13.66 | -4.48 | — | -0.01 | 0.17 | 0.18 | ||
| 2092 | 18.10 | 13.66 | -4.44 | — | -0.01 | 0.17 | 0.18 | ||
| 2093 | 18.07 | 13.66 | -4.42 | — | -0.01 | 0.17 | 0.18 | ||
| 2094 | 18.06 | 13.66 | -4.41 | — | -0.01 | 0.17 | 0.18 | ||
| 2095 | 18.06 | 13.66 | -4.41 | — | -0.00 | 0.17 | 0.18 | ||
| 2096 | 18.07 | 13.66 | -4.41 | — | -0.00 | 0.17 | 0.18 | ||
| 2097 | 18.09 | 13.66 | -4.43 | — | -0.00 | 0.17 | 0.18 | ||
| 2098 | 18.12 | 13.66 | -4.46 | — | -0.00 | 0.17 | 0.18 | ||
| 2099 | 18.15 | 13.66 | -4.49 | — | -0.00 | 0.17 | 0.18 | ||
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 | 17.29% | 13.95% | -3.34% | 2035 | -0.00% | 0.15% | 0.16% | ||
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.