Proposed Provision: E2.5. Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2024, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2023 | 204 | 204 |
| 2024 | 187 | 187 |
| 2025 | 168 | 178 |
| 2026 | 149 | 170 |
| 2027 | 131 | 163 |
| 2028 | 114 | 157 |
| 2029 | 96 | 151 |
| 2030 | 78 | 144 |
| 2031 | 60 | 139 |
| 2032 | 43 | 133 |
| 2033 | 25 | 128 |
| 2034 | 7 | 124 |
| 2035 | -12 | 120 |
| 2036 | -31 | 117 |
| 2037 | -51 | 113 |
| 2038 | -70 | 109 |
| 2039 | -91 | 104 |
| 2040 | -112 | 100 |
| 2041 | -133 | 95 |
| 2042 | -154 | 91 |
| 2043 | -176 | 86 |
| 2044 | -198 | 81 |
| 2045 | -220 | 76 |
| 2046 | -243 | 71 |
| 2047 | -265 | 66 |
| 2048 | -288 | 61 |
| 2049 | -311 | 55 |
| 2050 | -333 | 50 |
| 2051 | -357 | 44 |
| 2052 | -380 | 38 |
| 2053 | -403 | 32 |
| 2054 | -427 | 25 |
| 2055 | -450 | 18 |
| 2056 | -474 | 11 |
| 2057 | -498 | 4 |
| 2058 | -522 | -4 |
| 2059 | -547 | -13 |
| 2060 | -572 | -21 |
| 2061 | -597 | -30 |
| 2062 | -623 | -40 |
| 2063 | -650 | -50 |
| 2064 | -677 | -60 |
| 2065 | -705 | -71 |
| 2066 | -733 | -81 |
| 2067 | -762 | -93 |
| 2068 | -791 | -104 |
| 2069 | -820 | -116 |
| 2070 | -850 | -128 |
| 2071 | -880 | -141 |
| 2072 | -911 | -153 |
| 2073 | -942 | -166 |
| 2074 | -974 | -180 |
| 2075 | -1006 | -194 |
| 2076 | -1039 | -208 |
| 2077 | -1074 | -222 |
| 2078 | -1108 | -237 |
| 2079 | -1144 | -252 |
| 2080 | -1181 | -267 |
| 2081 | -1218 | -282 |
| 2082 | -1256 | -297 |
| 2083 | -1294 | -313 |
| 2084 | -1333 | -328 |
| 2085 | -1373 | -344 |
| 2086 | -1413 | -359 |
| 2087 | -1453 | -374 |
| 2088 | -1494 | -389 |
| 2089 | -1534 | -404 |
| 2090 | -1574 | -419 |
| 2091 | -1613 | -433 |
| 2092 | -1651 | -447 |
| 2093 | -1689 | -460 |
| 2094 | -1726 | -473 |
| 2095 | -1762 | -486 |
| 2096 | -1798 | -499 |
| 2097 | -1833 | -512 |
| 2098 | -1868 | -525 |
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