Proposed Provision: E2.15. Apply OASDI 12.4 percent payroll tax rate on earnings above $300,000 starting in 2027, and tax all earnings once the current-law taxable maximum exceeds $300,000. 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 3 percent on this newly computed "AIME+".

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

Year Current Law Provision
2025169169
2026149149
2027131131
2028113123
202995116
203078110
203160104
20324397
20332692
2034988
2035-983
2036-2779
2037-4574
2038-6370
2039-8366
2040-10262
2041-12258
2042-14353
2043-16449
2044-18544
2045-20639
2046-22834
2047-25029
2048-27223
2049-29517
2050-31711
2051-3405
2052-363-1
2053-386-8
2054-409-15
2055-433-23
2056-457-31
2057-481-40
2058-505-48
2059-530-58
2060-556-68
2061-582-78
2062-609-89
2063-636-100
2064-664-112
2065-692-124
2066-721-136
2067-750-149
2068-780-162
2069-810-176
2070-840-190
2071-871-204
2072-903-219
2073-935-234
2074-967-250
2075-1000-266
2076-1035-283
2077-1070-300
2078-1106-317
2079-1142-335
2080-1180-354
2081-1219-372
2082-1258-391
2083-1298-411
2084-1338-430
2085-1380-450
2086-1423-470
2087-1466-491
2088-1510-511
2089-1554-531
2090-1599-552
2091-1643-572
2092-1687-592
2093-1731-612
2094-1774-631
2095-1816-650
2096-1858-669
2097-1900-688
2098-1941-706
2099-1982-725
2100-2022-743
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