Proposed Provision: E2.13. Apply OASDI 12.4 percent payroll tax rate on earnings above $400,000 starting in 2027, and tax all earnings once the current-law taxable maximum exceeds $400,000. 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 2026 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2025 | 169 | 169 |
| 2026 | 149 | 149 |
| 2027 | 131 | 131 |
| 2028 | 113 | 121 |
| 2029 | 95 | 112 |
| 2030 | 78 | 104 |
| 2031 | 60 | 95 |
| 2032 | 43 | 87 |
| 2033 | 26 | 79 |
| 2034 | 9 | 72 |
| 2035 | -9 | 65 |
| 2036 | -27 | 58 |
| 2037 | -45 | 50 |
| 2038 | -63 | 43 |
| 2039 | -83 | 36 |
| 2040 | -102 | 28 |
| 2041 | -122 | 21 |
| 2042 | -143 | 14 |
| 2043 | -164 | 7 |
| 2044 | -185 | 1 |
| 2045 | -206 | -6 |
| 2046 | -228 | -12 |
| 2047 | -250 | -18 |
| 2048 | -272 | -24 |
| 2049 | -295 | -30 |
| 2050 | -317 | -36 |
| 2051 | -340 | -42 |
| 2052 | -363 | -49 |
| 2053 | -386 | -56 |
| 2054 | -409 | -63 |
| 2055 | -433 | -71 |
| 2056 | -457 | -79 |
| 2057 | -481 | -87 |
| 2058 | -505 | -96 |
| 2059 | -530 | -105 |
| 2060 | -556 | -115 |
| 2061 | -582 | -126 |
| 2062 | -609 | -136 |
| 2063 | -636 | -148 |
| 2064 | -664 | -159 |
| 2065 | -692 | -171 |
| 2066 | -721 | -184 |
| 2067 | -750 | -196 |
| 2068 | -780 | -209 |
| 2069 | -810 | -223 |
| 2070 | -840 | -237 |
| 2071 | -871 | -251 |
| 2072 | -903 | -266 |
| 2073 | -935 | -281 |
| 2074 | -967 | -297 |
| 2075 | -1000 | -313 |
| 2076 | -1035 | -329 |
| 2077 | -1070 | -346 |
| 2078 | -1106 | -364 |
| 2079 | -1142 | -382 |
| 2080 | -1180 | -400 |
| 2081 | -1219 | -419 |
| 2082 | -1258 | -438 |
| 2083 | -1298 | -457 |
| 2084 | -1338 | -477 |
| 2085 | -1380 | -497 |
| 2086 | -1423 | -517 |
| 2087 | -1466 | -538 |
| 2088 | -1510 | -558 |
| 2089 | -1554 | -579 |
| 2090 | -1599 | -599 |
| 2091 | -1643 | -620 |
| 2092 | -1687 | -640 |
| 2093 | -1731 | -659 |
| 2094 | -1774 | -679 |
| 2095 | -1816 | -698 |
| 2096 | -1858 | -717 |
| 2097 | -1900 | -736 |
| 2098 | -1941 | -754 |
| 2099 | -1982 | -773 |
| 2100 | -2022 | -791 |
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