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Detailed Single Year Tables

Description of Proposed Provision:
Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2017, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.

 

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
201713.7214.260.54
293
0.001.341.34
201813.8514.410.56
286
0.001.461.46
201913.9814.470.48
281
0.001.501.50
202014.1314.520.39
275
0.001.541.54
202114.2714.580.31
270
0.001.581.58
202214.4914.650.16
264
0.001.611.62
202314.7514.70-0.05
257
-0.011.641.65
202415.0214.77-0.25
249
-0.011.681.68
202515.2814.82-0.46
241
-0.011.711.72
202615.4614.89-0.57
234
-0.011.761.77
202715.6414.96-0.68
227
-0.011.821.83
202815.8015.03-0.77
221
-0.011.881.89
202915.9615.11-0.85
215
-0.011.941.95
203016.0915.18-0.91
209
-0.012.002.01
203116.2115.26-0.95
205
-0.012.072.08
203216.3115.34-0.97
200
-0.012.142.15
203316.3915.42-0.97
195
-0.022.212.23
203416.4515.50-0.94
191
-0.022.292.31
203516.4815.53-0.95
187
-0.022.322.33
203616.5415.54-1.00
183
-0.022.322.34
203716.5815.54-1.03
179
-0.022.322.34
203816.5915.55-1.04
174
-0.022.322.34
203916.5815.55-1.03
170
-0.032.322.34
204016.5615.55-1.01
166
-0.032.322.35
204116.5315.55-0.98
162
-0.032.322.35
204216.5015.55-0.95
158
-0.032.322.35
204316.4715.55-0.92
154
-0.032.322.35
204416.4315.55-0.88
150
-0.032.322.36
204516.4115.55-0.86
147
-0.042.322.36
204616.3915.55-0.83
143
-0.042.322.36
204716.3615.55-0.81
140
-0.042.322.36
204816.3415.55-0.79
137
-0.042.322.37
204916.3215.55-0.77
133
-0.042.322.37
205016.3115.56-0.76
130
-0.052.322.37
205116.3115.56-0.75
127
-0.052.322.37
205216.3215.56-0.76
124
-0.052.322.38
205316.3415.56-0.78
121
-0.052.322.38
205416.3715.56-0.80
117
-0.062.332.38
205516.4115.57-0.84
113
-0.062.332.38
205616.4515.57-0.87
109
-0.062.332.39
205716.4915.58-0.92
105
-0.062.332.39
205816.5415.58-0.96
101
-0.072.332.39
205916.5915.59-1.00
96
-0.072.332.40
206016.6415.59-1.05
91
-0.072.332.40
206116.6915.59-1.09
85
-0.072.332.40
206216.7315.60-1.13
80
-0.072.332.40
206316.7815.60-1.18
74
-0.082.332.41
206416.8315.61-1.22
68
-0.082.332.41
206516.8815.61-1.26
61
-0.082.332.41
206616.9315.62-1.31
54
-0.082.332.41
206716.9815.62-1.36
47
-0.082.332.42
206817.0315.62-1.40
40
-0.082.332.42
206917.0815.63-1.45
32
-0.082.342.42
207017.1315.63-1.50
24
-0.092.342.42
207117.1815.64-1.54
16
-0.092.342.43
207217.2215.64-1.57
7
-0.092.342.43
207317.2515.65-1.61
----
-0.092.342.43
207417.2815.65-1.63
----
-0.092.342.43
207517.3015.65-1.65
----
-0.092.342.43
207617.3115.65-1.66
----
-0.092.342.43
207717.3215.66-1.66
----
-0.092.342.44
207817.3215.66-1.66
----
-0.092.352.44
207917.3115.66-1.65
----
-0.092.352.44
208017.3115.66-1.65
----
-0.092.352.44
208117.3115.66-1.65
----
-0.092.352.44
208217.3115.66-1.65
----
-0.092.352.44
208317.3315.66-1.66
----
-0.092.352.44
208417.3515.67-1.68
----
-0.092.352.45
208517.3715.67-1.71
----
-0.092.352.45
208617.4115.67-1.74
----
-0.092.352.45
208717.4515.68-1.77
----
-0.092.362.45
208817.4915.68-1.81
----
-0.092.362.45
208917.5415.68-1.85
----
-0.092.362.45
209017.5815.69-1.89
----
-0.092.362.45
209117.6315.69-1.94
----
-0.092.362.45



 

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 16.46% 15.99% -0.47%
2072
-0.05% 2.14% 2.19%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016