Proposed Provision: Eliminate the taxable maximum in years 2017 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

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

Year Present Law Provision
2016303303
2017293293
2018277293
2019262294
2020246294
2021231294
2022216292
2023200289
2024183285
2025165279
2026149275
2027132270
2028115266
202998262
203081258
203164254
203246250
203327245
20348241
2035-11236
2036-30231
2037-50225
2038-71219
2039-91214
2040-112208
2041-133203
2042-154197
2043-176191
2044-197186
2045-218180
2046-240175
2047-262169
2048-283164
2049-305158
2050-327152
2051-349146
2052-371140
2053-393134
2054-415127
2055-437121
2056-460113
2057-482106
2058-50698
2059-52989
2060-55381
2061-57872
2062-60362
2063-62853
2064-65443
2065-68032
2066-70621
2067-73310
2068-760-1
2069-788-13
2070-816-25
2071-845-38
2072-874-50
2073-905-64
2074-935-77
2075-967-91
2076-1000-105
2077-1033-119
2078-1068-134
2079-1102-149
2080-1138-163
2081-1173-178
2082-1208-194
2083-1243-209
2084-1279-224
2085-1314-240
2086-1349-255
2087-1384-271
2088-1419-287
2089-1455-304
2090-1491-320
2091-1528-337
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