Proposed Provision: E2.4. Eliminate the taxable maximum for years 2033 and later (phased in 2027-2033), and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2025 that were in excess of that year's current-law taxable maximum; (2) a new bend point equal to $10,622 in 2027, indexed by wages after 2027; and (3) formula factors of 3 percent and 0.25 percent below and above the new bend point, respectively.