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Detailed Single Year Tables

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2019-2024, until the rate reaches 13.0 percent for 2024 and later.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9913.06-0.93
262
0.000.090.09
202014.1313.17-0.97
247
0.000.190.19
202114.2713.28-0.99
233
0.000.280.28
202214.4913.41-1.08
220
0.000.380.38
202314.7613.53-1.23
206
0.000.470.47
202415.0213.66-1.36
192
0.000.570.57
202515.2813.68-1.60
178
0.000.570.57
202615.4713.70-1.77
164
0.000.570.57
202715.6513.71-1.93
151
0.000.570.57
202815.8113.73-2.08
138
0.000.570.57
202915.9613.74-2.22
124
0.000.570.57
203016.1013.75-2.35
110
0.000.570.58
203116.2213.76-2.46
97
0.000.570.58
203216.3213.77-2.55
82
0.000.570.58
203316.4013.78-2.63
68
0.000.570.58
203416.4613.78-2.68
52
0.000.570.58
203516.4913.79-2.70
37
0.000.570.58
203616.5513.79-2.76
21
0.000.570.58
203716.5913.80-2.79
5
0.000.570.58
203816.6113.80-2.81
----
-0.010.570.58
203916.6013.80-2.80
----
-0.010.570.58
204016.5813.80-2.78
----
-0.010.570.58
204116.5513.80-2.75
----
-0.010.570.58
204216.5313.80-2.72
----
-0.010.570.58
204316.4913.80-2.69
----
-0.010.570.58
204416.4613.80-2.66
----
-0.010.570.58
204516.4413.80-2.64
----
-0.010.570.58
204616.4213.80-2.61
----
-0.010.570.58
204716.3913.80-2.59
----
-0.010.570.58
204816.3713.80-2.57
----
-0.010.570.58
204916.3613.80-2.55
----
-0.010.570.58
205016.3513.81-2.54
----
-0.010.570.59
205116.3513.81-2.54
----
-0.010.570.59
205216.3613.81-2.55
----
-0.010.570.59
205316.3813.81-2.57
----
-0.010.570.59
205416.4113.81-2.60
----
-0.010.570.59
205516.4513.82-2.63
----
-0.010.570.59
205616.4913.82-2.67
----
-0.020.570.59
205716.5413.82-2.72
----
-0.020.570.59
205816.5913.83-2.76
----
-0.020.570.59
205916.6413.83-2.81
----
-0.020.570.59
206016.6913.84-2.85
----
-0.020.570.59
206116.7413.84-2.90
----
-0.020.570.59
206216.7913.84-2.94
----
-0.020.570.59
206316.8413.85-2.99
----
-0.020.570.59
206416.8813.85-3.03
----
-0.020.570.59
206516.9313.85-3.08
----
-0.020.570.60
206616.9913.86-3.13
----
-0.020.570.60
206717.0413.86-3.18
----
-0.020.570.60
206817.0913.86-3.23
----
-0.020.570.60
206917.1413.87-3.27
----
-0.020.570.60
207017.1913.87-3.32
----
-0.020.580.60
207117.2413.88-3.37
----
-0.020.580.60
207217.2813.88-3.40
----
-0.020.580.60
207317.3213.88-3.44
----
-0.020.580.60
207417.3513.88-3.46
----
-0.020.580.60
207517.3713.89-3.48
----
-0.020.580.60
207617.3813.89-3.49
----
-0.020.580.60
207717.3913.89-3.50
----
-0.020.580.60
207817.3913.89-3.50
----
-0.020.580.60
207917.3813.89-3.49
----
-0.020.580.60
208017.3813.89-3.49
----
-0.020.580.60
208117.3813.89-3.49
----
-0.020.580.60
208217.3813.89-3.49
----
-0.020.580.60
208317.3913.89-3.51
----
-0.020.580.60
208417.4213.89-3.53
----
-0.020.580.60
208517.4413.89-3.55
----
-0.020.580.60
208617.4813.89-3.58
----
-0.020.580.60
208717.5213.90-3.62
----
-0.020.580.60
208817.5613.90-3.66
----
-0.020.580.60
208917.6113.90-3.70
----
-0.020.580.60
209017.6513.91-3.75
----
-0.020.580.60
209117.7013.91-3.79
----
-0.020.580.60



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 16.49% 14.37% -2.12%
2037
-0.01% 0.53% 0.54%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016