Proposed Provision: E3.12. Beginning in 2033, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $760,800 in 2033), with the threshold wage-indexed after 2033. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

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

Year Current Law Provision
2025169169
2026149149
2027131131
2028113113
20299595
20307878
20316060
20324343
20332626
2034910
2035-9-7
2036-27-24
2037-45-41
2038-63-58
2039-83-76
2040-102-95
2041-122-114
2042-143-133
2043-164-153
2044-185-173
2045-206-194
2046-228-214
2047-250-235
2048-272-256
2049-295-278
2050-317-299
2051-340-321
2052-363-343
2053-386-365
2054-409-387
2055-433-410
2056-457-432
2057-481-455
2058-505-479
2059-530-503
2060-556-527
2061-582-553
2062-609-578
2063-636-605
2064-664-632
2065-692-659
2066-721-687
2067-750-715
2068-780-743
2069-810-772
2070-840-802
2071-871-832
2072-903-862
2073-935-893
2074-967-925
2075-1000-957
2076-1035-990
2077-1070-1024
2078-1106-1059
2079-1142-1095
2080-1180-1131
2081-1219-1169
2082-1258-1207
2083-1298-1246
2084-1338-1285
2085-1380-1326
2086-1423-1367
2087-1466-1409
2088-1510-1452
2089-1554-1495
2090-1599-1538
2091-1643-1581
2092-1687-1624
2093-1731-1666
2094-1774-1708
2095-1816-1750
2096-1858-1790
2097-1900-1831
2098-1941-1871
2099-1982-1911
2100-2022-1950
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