Proposed Provision: E2.11. Eliminate the taxable maximum in years 2031 and later. Phase in elimination by taxing all earnings above the current-law taxable maximum at: 2.48 percent in 2027, 4.96 percent in 2028, and so on, up to 12.40 percent in 2031. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2026 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 5 percent on this newly computed "AIME+".
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2025 | 169 | 169 |
| 2026 | 149 | 149 |
| 2027 | 131 | 131 |
| 2028 | 113 | 116 |
| 2029 | 95 | 105 |
| 2030 | 78 | 96 |
| 2031 | 60 | 91 |
| 2032 | 43 | 88 |
| 2033 | 26 | 85 |
| 2034 | 9 | 83 |
| 2035 | -9 | 81 |
| 2036 | -27 | 78 |
| 2037 | -45 | 75 |
| 2038 | -63 | 71 |
| 2039 | -83 | 67 |
| 2040 | -102 | 63 |
| 2041 | -122 | 59 |
| 2042 | -143 | 54 |
| 2043 | -164 | 50 |
| 2044 | -185 | 45 |
| 2045 | -206 | 40 |
| 2046 | -228 | 35 |
| 2047 | -250 | 29 |
| 2048 | -272 | 23 |
| 2049 | -295 | 17 |
| 2050 | -317 | 11 |
| 2051 | -340 | 5 |
| 2052 | -363 | -2 |
| 2053 | -386 | -9 |
| 2054 | -409 | -17 |
| 2055 | -433 | -25 |
| 2056 | -457 | -33 |
| 2057 | -481 | -42 |
| 2058 | -505 | -51 |
| 2059 | -530 | -61 |
| 2060 | -556 | -71 |
| 2061 | -582 | -82 |
| 2062 | -609 | -94 |
| 2063 | -636 | -105 |
| 2064 | -664 | -117 |
| 2065 | -692 | -130 |
| 2066 | -721 | -143 |
| 2067 | -750 | -156 |
| 2068 | -780 | -170 |
| 2069 | -810 | -184 |
| 2070 | -840 | -199 |
| 2071 | -871 | -214 |
| 2072 | -903 | -229 |
| 2073 | -935 | -245 |
| 2074 | -967 | -261 |
| 2075 | -1000 | -278 |
| 2076 | -1035 | -295 |
| 2077 | -1070 | -313 |
| 2078 | -1106 | -331 |
| 2079 | -1142 | -350 |
| 2080 | -1180 | -369 |
| 2081 | -1219 | -389 |
| 2082 | -1258 | -409 |
| 2083 | -1298 | -429 |
| 2084 | -1338 | -449 |
| 2085 | -1380 | -470 |
| 2086 | -1423 | -491 |
| 2087 | -1466 | -512 |
| 2088 | -1510 | -533 |
| 2089 | -1554 | -555 |
| 2090 | -1599 | -576 |
| 2091 | -1643 | -597 |
| 2092 | -1687 | -618 |
| 2093 | -1731 | -639 |
| 2094 | -1774 | -659 |
| 2095 | -1816 | -679 |
| 2096 | -1858 | -699 |
| 2097 | -1900 | -719 |
| 2098 | -1941 | -738 |
| 2099 | -1982 | -758 |
| 2100 | -2022 | -777 |
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