Proposed Provision: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2019-2024, until the rate reaches 13.0 percent for 2024 and later.

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246247
2021231233
2022216220
2023200206
2024183192
2025165178
2026149164
2027132151
2028115138
202998124
203081110
20316497
20324682
20332768
2034852
2035-1137
2036-3021
2037-505
2038-71-11
2039-91-28
2040-112-45
2041-133-61
2042-154-78
2043-176-95
2044-197-112
2045-218-129
2046-240-146
2047-262-164
2048-283-181
2049-305-198
2050-327-215
2051-349-233
2052-371-250
2053-393-267
2054-415-285
2055-437-303
2056-460-321
2057-482-339
2058-506-358
2059-529-376
2060-553-396
2061-578-416
2062-603-436
2063-628-456
2064-654-477
2065-680-499
2066-706-520
2067-733-542
2068-760-565
2069-788-588
2070-816-611
2071-845-635
2072-874-659
2073-905-684
2074-935-709
2075-967-736
2076-1000-763
2077-1033-790
2078-1068-819
2079-1102-847
2080-1138-876
2081-1173-905
2082-1208-934
2083-1243-964
2084-1279-993
2085-1314-1022
2086-1349-1051
2087-1384-1080
2088-1419-1109
2089-1455-1139
2090-1491-1169
2091-1528-1200
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