Proposed Provision: E2.1. Eliminate the taxable maximum in years 2024 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law taxable maximum.

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

Year Current Law Provision
2023204204
2024187187
2025168182
2026149178
2027131175
2028114171
202996168
203078164
203160160
203243156
203325151
20347147
2035-12144
2036-31141
2037-51137
2038-70133
2039-91129
2040-112124
2041-133120
2042-154116
2043-176111
2044-198107
2045-220102
2046-24397
2047-26592
2048-28887
2049-31182
2050-33377
2051-35771
2052-38065
2053-40359
2054-42753
2055-45046
2056-47439
2057-49832
2058-52224
2059-54716
2060-5727
2061-597-2
2062-623-11
2063-650-21
2064-677-31
2065-705-42
2066-733-52
2067-762-63
2068-791-75
2069-820-87
2070-850-99
2071-880-111
2072-911-123
2073-942-136
2074-974-150
2075-1006-163
2076-1039-177
2077-1074-191
2078-1108-206
2079-1144-220
2080-1181-235
2081-1218-250
2082-1256-265
2083-1294-280
2084-1333-295
2085-1373-310
2086-1413-325
2087-1453-340
2088-1494-355
2089-1534-370
2090-1574-384
2091-1613-398
2092-1651-411
2093-1689-424
2094-1726-437
2095-1762-450
2096-1798-463
2097-1833-475
2098-1868-488
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