Proposed Provision: E3.15. Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2026-2035). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2026-2035). Provide benefit credit for earnings taxed up to the revised taxable maximum.

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

Year Current Law Provision
2025169169
2026149149
2027131133
2028113118
202995105
20307893
20316082
20324372
20332663
2034956
2035-949
2036-2742
2037-4534
2038-6327
2039-8318
2040-10210
2041-1221
2042-143-8
2043-164-17
2044-185-27
2045-206-36
2046-228-46
2047-250-56
2048-272-67
2049-295-77
2050-317-88
2051-340-99
2052-363-110
2053-386-122
2054-409-134
2055-433-146
2056-457-159
2057-481-172
2058-505-186
2059-530-200
2060-556-215
2061-582-230
2062-609-246
2063-636-262
2064-664-279
2065-692-296
2066-721-313
2067-750-331
2068-780-349
2069-810-368
2070-840-387
2071-871-407
2072-903-427
2073-935-448
2074-967-469
2075-1000-491
2076-1035-513
2077-1070-536
2078-1106-560
2079-1142-584
2080-1180-609
2081-1219-634
2082-1258-660
2083-1298-686
2084-1338-713
2085-1380-740
2086-1423-768
2087-1466-796
2088-1510-824
2089-1554-853
2090-1599-881
2091-1643-910
2092-1687-938
2093-1731-966
2094-1774-993
2095-1816-1020
2096-1858-1047
2097-1900-1074
2098-1941-1100
2099-1982-1127
2100-2022-1153
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