Proposed Provision: E3.11. Beginning in 2031, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $522,300 in 2031), with the threshold wage-indexed after 2031. Do not provide benefit credit for additional earnings taxed.

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

Year Current Law Provision
2023204204
2024187187
2025168168
2026149149
2027131131
2028114114
20299696
20307878
20316060
20324344
20332527
2034711
2035-12-7
2036-31-25
2037-51-43
2038-70-62
2039-91-81
2040-112-100
2041-133-120
2042-154-140
2043-176-161
2044-198-181
2045-220-202
2046-243-223
2047-265-244
2048-288-265
2049-311-286
2050-333-308
2051-357-330
2052-380-351
2053-403-373
2054-427-395
2055-450-418
2056-474-440
2057-498-463
2058-522-485
2059-547-509
2060-572-532
2061-597-557
2062-623-581
2063-650-607
2064-677-633
2065-705-659
2066-733-686
2067-762-713
2068-791-740
2069-820-768
2070-850-796
2071-880-825
2072-911-855
2073-942-884
2074-974-914
2075-1006-945
2076-1039-977
2077-1074-1009
2078-1108-1042
2079-1144-1077
2080-1181-1111
2081-1218-1147
2082-1256-1183
2083-1294-1219
2084-1333-1256
2085-1373-1294
2086-1413-1332
2087-1453-1370
2088-1494-1408
2089-1534-1447
2090-1574-1484
2091-1613-1522
2092-1651-1558
2093-1689-1594
2094-1726-1629
2095-1762-1663
2096-1798-1697
2097-1833-1731
2098-1868-1764
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