Proposed Provision: H6. Eliminate federal income taxation of OASDI benefits that is credited to the OASI and DI Trust Funds for 2054 and later. Phase out OASDI taxation of benefits by increasing relevant "income" thresholds from 2045 through 2053 as follows, for single/joint tax filers: (a) 2045 = $32,500/$65,000; (b) 2046 = $40,000/$80,000; (c) 2047 = $47,500/$95,000; (d) 2048 = $55,000/$110,000; (e) 2049 = $62,500/$125,000; (f) 2050 = $70,000/$140,000; (g) 2051 = $77,500/$155,000; (h) 2052 = $85,000/$170,000; and (i) 2053 = $92,500/$185,000. Taxation of benefits revenues for the Hospital Insurance (HI) Trust Fund would be maintained at the same level as if the current-law computation applied.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2026151151
2027131131
2028111111
20299292
20307474
20315757
20324040
20332323
203477
2035-9-9
2036-25-25
2037-41-41
2038-58-58
2039-76-76
2040-94-94
2041-112-112
2042-132-132
2043-151-151
2044-171-171
2045-192-192
2046-213-213
2047-234-235
2048-256-257
2049-279-281
2050-301-304
2051-324-328
2052-347-353
2053-371-378
2054-395-404
2055-420-433
2056-445-463
2057-470-493
2058-496-525
2059-522-556
2060-550-589
2061-578-622
2062-607-656
2063-636-691
2064-666-727
2065-697-763
2066-729-800
2067-761-838
2068-794-876
2069-827-915
2070-861-955
2071-896-995
2072-931-1036
2073-967-1078
2074-1004-1121
2075-1042-1164
2076-1081-1210
2077-1121-1256
2078-1162-1303
2079-1204-1352
2080-1248-1402
2081-1292-1453
2082-1337-1505
2083-1384-1558
2084-1431-1612
2085-1480-1668
2086-1530-1726
2087-1581-1784
2088-1633-1844
2089-1686-1905
2090-1740-1967
2091-1795-2030
2092-1850-2093
2093-1906-2157
2094-1962-2222
2095-2019-2287
2096-2075-2352
2097-2132-2418
2098-2189-2483
2099-2246-2549
2100-2303-2614
2101-2359-2679
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