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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $200,000 in 2017, with the threshold wage-indexed after 2024. Provide proportional benefit credit for additional earnings taxed, based on the payroll tax rate applied to the additional earnings divided by the full 12.4 percent payroll tax rate.

 

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
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.36-1.67
183
0.000.270.27
202515.2813.39-1.90
167
0.000.280.28
202615.4713.40-2.07
152
0.000.280.28
202715.6513.42-2.23
137
0.000.280.28
202815.8113.43-2.38
122
0.000.280.28
202915.9713.45-2.52
106
0.000.280.27
203016.1113.46-2.65
91
0.000.280.27
203116.2313.47-2.76
75
0.000.280.27
203216.3313.48-2.86
59
0.010.280.27
203316.4213.48-2.93
42
0.010.280.27
203416.4713.49-2.98
25
0.010.280.27
203516.5113.49-3.01
8
0.010.280.27
203616.5713.50-3.07
----
0.010.280.27
203716.6113.51-3.11
----
0.020.280.26
203816.6313.51-3.12
----
0.020.280.26
203916.6313.51-3.12
----
0.020.280.26
204016.6113.51-3.10
----
0.020.280.26
204116.5913.51-3.07
----
0.020.280.26
204216.5613.51-3.05
----
0.030.280.25
204316.5313.51-3.02
----
0.030.280.25
204416.5013.51-2.99
----
0.030.280.25
204516.4913.51-2.97
----
0.040.280.25
204616.4613.51-2.95
----
0.040.280.24
204716.4413.51-2.93
----
0.040.280.24
204816.4313.51-2.92
----
0.040.280.24
204916.4213.52-2.90
----
0.050.280.24
205016.4113.52-2.89
----
0.050.280.23
205116.4113.52-2.90
----
0.050.280.23
205216.4313.52-2.91
----
0.060.290.23
205316.4513.52-2.93
----
0.060.290.22
205416.4913.53-2.96
----
0.060.290.22
205516.5313.53-3.00
----
0.070.290.22
205616.5813.53-3.05
----
0.070.290.22
205716.6313.54-3.09
----
0.080.290.21
205816.6913.54-3.14
----
0.080.290.21
205916.7413.55-3.19
----
0.080.290.21
206016.7913.55-3.24
----
0.090.290.20
206116.8513.56-3.29
----
0.090.290.20
206216.9013.56-3.34
----
0.090.290.20
206316.9513.56-3.39
----
0.100.290.19
206417.0113.57-3.44
----
0.100.290.19
206517.0613.57-3.49
----
0.100.290.19
206617.1113.58-3.54
----
0.110.290.19
206717.1713.58-3.59
----
0.110.290.18
206817.2313.58-3.64
----
0.110.290.18
206917.2813.59-3.69
----
0.120.290.18
207017.3413.59-3.74
----
0.120.290.18
207117.3913.60-3.79
----
0.120.300.17
207217.4313.60-3.83
----
0.120.300.17
207317.4713.60-3.86
----
0.130.300.17
207417.5013.60-3.89
----
0.130.300.17
207517.5213.61-3.91
----
0.130.300.17
207617.5413.61-3.93
----
0.130.300.17
207717.5413.61-3.93
----
0.130.300.16
207817.5413.61-3.93
----
0.130.300.16
207917.5413.61-3.93
----
0.130.300.16
208017.5413.61-3.93
----
0.140.300.16
208117.5413.61-3.93
----
0.140.300.16
208217.5413.61-3.93
----
0.140.300.16
208317.5613.61-3.95
----
0.140.300.16
208417.5813.61-3.97
----
0.140.300.16
208517.6113.61-3.99
----
0.140.300.16
208617.6413.62-4.03
----
0.140.300.16
208717.6813.62-4.06
----
0.140.300.16
208817.7313.62-4.10
----
0.140.300.16
208917.7713.63-4.15
----
0.140.300.16
209017.8213.63-4.19
----
0.140.300.16
209117.8713.63-4.23
----
0.140.300.16



 

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 16.56% 14.10% -2.46%
2035
0.06% 0.25% 0.19%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016