Proposed Provision: E3.13. Beginning in 2029, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017 (about $611,100 in 2029), with the threshold wage-indexed after 2029. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2021 | 253 | 253 |
| 2022 | 231 | 231 |
| 2023 | 214 | 214 |
| 2024 | 196 | 196 |
| 2025 | 178 | 178 |
| 2026 | 159 | 159 |
| 2027 | 141 | 141 |
| 2028 | 122 | 122 |
| 2029 | 104 | 104 |
| 2030 | 85 | 86 |
| 2031 | 66 | 68 |
| 2032 | 46 | 49 |
| 2033 | 27 | 31 |
| 2034 | 7 | 12 |
| 2035 | -13 | -7 |
| 2036 | -33 | -27 |
| 2037 | -54 | -46 |
| 2038 | -76 | -67 |
| 2039 | -97 | -87 |
| 2040 | -119 | -108 |
| 2041 | -142 | -130 |
| 2042 | -165 | -151 |
| 2043 | -188 | -173 |
| 2044 | -211 | -196 |
| 2045 | -235 | -218 |
| 2046 | -258 | -240 |
| 2047 | -282 | -263 |
| 2048 | -306 | -286 |
| 2049 | -330 | -309 |
| 2050 | -354 | -332 |
| 2051 | -378 | -355 |
| 2052 | -403 | -378 |
| 2053 | -427 | -402 |
| 2054 | -452 | -425 |
| 2055 | -477 | -449 |
| 2056 | -502 | -473 |
| 2057 | -527 | -496 |
| 2058 | -552 | -521 |
| 2059 | -578 | -545 |
| 2060 | -604 | -570 |
| 2061 | -630 | -595 |
| 2062 | -657 | -620 |
| 2063 | -684 | -646 |
| 2064 | -712 | -672 |
| 2065 | -740 | -699 |
| 2066 | -768 | -726 |
| 2067 | -796 | -754 |
| 2068 | -825 | -781 |
| 2069 | -855 | -809 |
| 2070 | -884 | -838 |
| 2071 | -914 | -866 |
| 2072 | -945 | -895 |
| 2073 | -976 | -925 |
| 2074 | -1007 | -955 |
| 2075 | -1039 | -985 |
| 2076 | -1071 | -1017 |
| 2077 | -1105 | -1049 |
| 2078 | -1139 | -1082 |
| 2079 | -1175 | -1116 |
| 2080 | -1211 | -1151 |
| 2081 | -1248 | -1186 |
| 2082 | -1286 | -1222 |
| 2083 | -1324 | -1259 |
| 2084 | -1363 | -1296 |
| 2085 | -1403 | -1334 |
| 2086 | -1443 | -1372 |
| 2087 | -1483 | -1411 |
| 2088 | -1524 | -1450 |
| 2089 | -1564 | -1488 |
| 2090 | -1604 | -1526 |
| 2091 | -1643 | -1563 |
| 2092 | -1681 | -1600 |
| 2093 | -1718 | -1635 |
| 2094 | -1754 | -1669 |
| 2095 | -1789 | -1703 |
| 2096 | -1825 | -1737 |
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