Proposed Provision: B7.7. Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2028 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2028, based on changes in the SSA average wage index.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2023 | 204 | 204 |
| 2024 | 187 | 187 |
| 2025 | 168 | 168 |
| 2026 | 149 | 149 |
| 2027 | 131 | 131 |
| 2028 | 114 | 114 |
| 2029 | 96 | 96 |
| 2030 | 78 | 78 |
| 2031 | 60 | 61 |
| 2032 | 43 | 44 |
| 2033 | 25 | 26 |
| 2034 | 7 | 9 |
| 2035 | -12 | -9 |
| 2036 | -31 | -27 |
| 2037 | -51 | -46 |
| 2038 | -70 | -65 |
| 2039 | -91 | -84 |
| 2040 | -112 | -103 |
| 2041 | -133 | -122 |
| 2042 | -154 | -142 |
| 2043 | -176 | -161 |
| 2044 | -198 | -181 |
| 2045 | -220 | -201 |
| 2046 | -243 | -220 |
| 2047 | -265 | -240 |
| 2048 | -288 | -260 |
| 2049 | -311 | -280 |
| 2050 | -333 | -300 |
| 2051 | -357 | -320 |
| 2052 | -380 | -340 |
| 2053 | -403 | -360 |
| 2054 | -427 | -380 |
| 2055 | -450 | -401 |
| 2056 | -474 | -421 |
| 2057 | -498 | -442 |
| 2058 | -522 | -463 |
| 2059 | -547 | -485 |
| 2060 | -572 | -507 |
| 2061 | -597 | -529 |
| 2062 | -623 | -552 |
| 2063 | -650 | -576 |
| 2064 | -677 | -600 |
| 2065 | -705 | -624 |
| 2066 | -733 | -649 |
| 2067 | -762 | -674 |
| 2068 | -791 | -700 |
| 2069 | -820 | -725 |
| 2070 | -850 | -752 |
| 2071 | -880 | -778 |
| 2072 | -911 | -806 |
| 2073 | -942 | -833 |
| 2074 | -974 | -861 |
| 2075 | -1006 | -890 |
| 2076 | -1039 | -919 |
| 2077 | -1074 | -950 |
| 2078 | -1108 | -981 |
| 2079 | -1144 | -1012 |
| 2080 | -1181 | -1045 |
| 2081 | -1218 | -1078 |
| 2082 | -1256 | -1111 |
| 2083 | -1294 | -1145 |
| 2084 | -1333 | -1180 |
| 2085 | -1373 | -1215 |
| 2086 | -1413 | -1250 |
| 2087 | -1453 | -1286 |
| 2088 | -1494 | -1321 |
| 2089 | -1534 | -1356 |
| 2090 | -1574 | -1391 |
| 2091 | -1613 | -1426 |
| 2092 | -1651 | -1460 |
| 2093 | -1689 | -1493 |
| 2094 | -1726 | -1525 |
| 2095 | -1762 | -1557 |
| 2096 | -1798 | -1588 |
| 2097 | -1833 | -1619 |
| 2098 | -1868 | -1649 |
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